The Reserve Bank of India has notified the Reserve Bank – Integrated Ombudsman Scheme (RB-IOS), 2026, which will come into force from July 1, 2026, replacing the existing RB-IOS, 2021.
The revised framework introduces tighter timelines and stronger procedural discipline to make the customer grievance redress mechanism more time-bound, efficient, and accountable across all RBI-regulated entities covered under the Scheme.
One of the most significant changes under the 2026 Scheme is the reduction in the time limit for filing complaints with the RBI Ombudsman. Under the revised provisions, a complaint must now be filed within 90 days from the date on which the regulated entity’s response timeline expires, or from the date of the last communication received from the regulated entity, whichever is later.
Under the earlier Integrated Ombudsman Scheme, 2021, customers were permitted to approach the Ombudsman within one year from the date of the bank’s response or after the expiry of the response period, making the new requirement a substantial tightening of timelines.
The Scheme also prescribes stricter response discipline for regulated entities. Once a complaint is forwarded by the Office of the RBI Ombudsman, the concerned bank or regulated entity is required to submit its written response along with relevant supporting documents within 15 days, unless an extension is granted by the Ombudsman.
Further strengthening enforcement, the revised framework empowers the RBI Ombudsman to proceed ex-parte in cases where a regulated entity fails to submit its response within the prescribed time. In such situations, the Ombudsman may decide the complaint based on the material available on record and issue an Award under the Scheme.
In addition, the revised Scheme clearly bifurcates the compensation framework, empowering the RBI Ombudsman to award compensation of up to Rs 30 lakh for consequential financial loss and up to Rs 3 lakh for harassment, mental anguish, and related inconvenience suffered by the complainant.
The RB-IOS, 2026 applies uniformly to all regulated entities covered under the Scheme, including commercial banks, regional rural banks, state and central cooperative banks, urban cooperative banks meeting the prescribed deposit threshold, eligible non-banking financial companies, non-bank prepaid payment instrument issuers, and credit information companies, subject to the conditions and exclusions specified in the Scheme.
Overall, the revised Ombudsman framework reflects the Reserve Bank’s intent to move towards a more disciplined, time-bound, and outcome-oriented grievance redress system, placing greater responsibility on regulated entities to ensure timely customer communication and effective internal grievance redress mechanisms.
