RBI issues revised Integrated Ombudsman Scheme

Key Highlights

• The Reserve Bank will appoint one or more of its officers as RBI Ombudsman and RBI Deputy Ombudsman, to carry out the functions entrusted to them under the Scheme.
• The appointments will be made generally for a period of three years at a time.
• The Reserve Bank said it will establish a Centralised Receipt and Processing Centre at one or more locations, as may be decided, to receive complaints filed under the Scheme and process them.
• Complaints can also be filed online.
• “While considering the complaints, the RBI Ombudsman/RBI Deputy Ombudsman shall take into account the principles of banking law and practice, as also the directions, instructions, guidelines or regulations issued by the Reserve Bank to regulated entities from time to time and such other factors as may be relevant,” the circular said.