Reserve Bank – Integrated Ombudsman Scheme

The Reserve Bank – Integrated Ombudsman Scheme was launched in 2021 as a part of the Alternate Grievance Redress (AGR) Framework of the Reserve Bank of India (RBI).
This scheme aims to provide a transparent and cost-free mechanism for resolving customer complaints related to the services offered by RBI-regulated entities.

Key Features of the Scheme

The scheme was launched under the provisions of the following acts:
- Banking Regulation Act, 1949
- RBI Act, 1934
- Payment and Settlement Systems Act, 2007
The primary objective of the Integrated Ombudsman Scheme is to provide cost-free redressal of customer grievances.
It ensures that complaints related to the services of RBI-regulated entities are handled efficiently and effectively, thus fostering consumer confidence in the banking and financial system.

Commercial Banks (including Public and Private sector banks)
Regional Rural Banks (RRBs)
Scheduled Primary (Urban) Co-operative Banks and Non-Scheduled Primary (Urban) Co-operative Banks with a deposit size of ₹50 crore and above.
Non-Banking Financial Companies (NBFCs), excluding Housing Finance Companies, that are authorized to accept deposits or interact with customers, with an asset size of ₹100 crore and above.
Payment System Participants and Credit Information Companies (CICs).

The RBI is authorized to appoint one or more of its officers as Ombudsman and Deputy Ombudsman for a tenure not exceeding three years at a time.
The Ombudsman is responsible for resolving customer complaints related to the services of regulated entities.

Complaints are processed through 24 Offices of the RBI Ombudsman (ORBIOs) located across India and the Centralized Receipt and Processing Centre (CRPC).
This system enables the streamlined handling of grievances and ensures that all customer complaints are addressed in a timely and efficient manner.

Enhanced Customer Protection: The Integrated Ombudsman Scheme strengthens the consumer protection framework in the financial sector by ensuring that grievances related to banking, financial services, and payment systems are resolved in an impartial and transparent manner.
Cost-Free Redressal: The scheme is aimed at providing a cost-free mechanism for redressal, ensuring that individuals can seek resolution for their complaints without incurring any financial burden.
Efficiency and Accessibility: By consolidating the various Ombudsman schemes under one umbrella, the Integrated Ombudsman Scheme simplifies the grievance redressal process for customers and makes it easier for them to seek resolution. It also helps in the centralized processing of complaints, reducing the complexity for customers.
Boosting Confidence in the Financial System: A robust grievance redressal mechanism increases public trust in the financial sector, encouraging more individuals to engage with regulated entities, knowing that their concerns will be addressed promptly and fairly.
Transparency and Accountability: The scheme enhances transparency and ensures accountability of regulated entities, thereby motivating them to improve their service standards and minimize customer complaints.