RBI Integrated Ombudsman Scheme-2021
Reserve Bank of India
Reserve Bank – Integrated Ombudsman Scheme, 2021 (RBIOS, 2021)
August 5, 2022
In exercise of the powers conferred by sub section (1) of Section 11 of the Credit Information Companies (Regulation) Act, 2005, and in partial modification of its notification CEPD. PRD. No. S873/13.01.001/2021-22 dated November 12, 2021, the Reserve Bank of India, being satisfied that it is in public interest to do so, and to provide an avenue for cost free alternate grievance redress to customers of regulated entities covered under the RBIOS 2021 (the Scheme) for grievances against Credit Information Companies, hereby directs that the ‘Credit Information Company’ as defined in the Credit Information Companies (Regulation) Act, 2005, shall also be treated as a ‘Regulated Entity’ for the purpose of the Scheme.
2. As a result, the Scheme shall also be applicable to Credit Information Companies to the extent not specifically excluded under the Scheme.
3. The amendment in the Scheme shall come into force w.e.f. September 1, 2022.
4. An updated version of the Scheme is annexed.
(Anil Kumar Sharma)
Reserve Bank of India
Reserve Bank – Integrated Ombudsman Scheme, 2021
Ref. CEPD. PRD. No.S873/13.01.001/2021-22
November 12, 2021
In exercise of the powers conferred by Section 35A of the Banking Regulation Act, 1949 (10 of 1949), Section 45L of the Reserve Bank of India Act, 1934 (2 of 1934) and Section 18 of the Payment and Settlement Systems Act, 2007 (51 of 2007), and in supersession of its Notifications Ref. (i) CEPD. PRS. No. 6317/13.01.01/2016-17 dated June 16, 2017; (ii) CEPD. PRS. No. 3590/13.01.004/2017-18 dated February 23, 2018; and (iii) CEPD. PRS. No. 3370/13.01.010/2018-19 dated January 31, 2019, the Reserve Bank of India, being satisfied that it is in public interest to do so, and to make the alternate dispute redress mechanism simpler and more responsive to the customers of entities regulated by it, hereby integrates the three Ombudsman schemes – (i) the Banking Ombudsman Scheme, 2006, as amended up to July 01, 2017; (ii) the Ombudsman Scheme for Non-Banking Financial Companies, 2018; and (iii) the Ombudsman Scheme for Digital Transactions, 2019 into the Reserve Bank – Integrated Ombudsman Scheme, 2021 (the Scheme).
2. The Scheme covers the following regulated entities:
all Commercial Banks, Regional Rural Banks, Scheduled Primary (Urban) Co-operative Banks and Non-Scheduled Primary (Urban) Co-operative Banks with deposits size of Rupees 50 crore and above as on the date of the audited balance sheet of the previous financial year;
all Non-Banking Financial Companies (excluding Housing Finance Companies) which (a) are authorised to accept deposits; or (b) have customer interface, with an assets size of Rupees 100 crore and above as on the date of the audited balance sheet of the previous financial year;
all System Participants as defined under the Scheme.
3. The regulated entities shall comply with the Scheme from the date of its implementation.
4. The format for filing a complaint under the Scheme is annexed.
5. The Scheme shall come into force from November 12, 2021.
(M. K. Jain)