The Integrated Ombudsman Scheme, 2021, as announced by Prime Minister Narendra Modi also includes non-scheduled primary cooperative banks with a deposit size of Rs 50 crore and above.
The new mechanism will redress customer complaints involving deficiency in services rendered by entities regulated by the RBI, if not resolved to the satisfaction of the customers within 30 days.
The Scheme integrates the existing three Ombudsman schemes of RBI — the Banking Ombudsman Scheme, 2006; the Ombudsman Scheme for Non-Banking Financial Companies, 2018; and the Ombudsman Scheme for Digital Transactions, 2019.
