Veteran co-operator and RBI Board member Marathe has welcomed the Reserve Bank of India’s decision to extend its Integrated Ombudsman Scheme (RB-IOS) to Rural Co-operative Banks (RCBs), including State and District Central Co-operative Banks.
Calling it a “welcome initiative,” Marathe said, “This is an important step towards integrating cooperative banking with mainstream banking.” He noted that bringing RCBs under the Ombudsman framework will strengthen grievance redressal, boost customer confidence, and ensure rural banking customers enjoy the same protections as those in commercial and urban cooperative banks.
He further observed that the move reflects RBI’s commitment to enhancing transparency and customer service across the cooperative banking sector, which plays a crucial role in rural credit delivery.