Skip to main content

Reserve Bank - Integrated Ombudsman Scheme, 2026 (RB-IOS, 2026)

Reserve Bank of India (RBI) has issued Reserve Bank - Integrated Ombudsman Scheme, 2026.

Who is RBI Ombudsman and RBI Deputy Ombudsman?

  • RBI may appoint one or more of its officers as RBI Ombudsman and RBI Deputy Ombudsman, to carry out the functions entrusted to them under the Reserve Bank - Integrated Ombudsman Scheme (RB-IOS). 
  • The appointment of RBI Ombudsman or RBI Deputy Ombudsman shall be for up to 3 years at a time.
  • RBI Ombudsman shall have the power to examine and close all complaints.  
  • RBI Deputy Ombudsman shall have the power to close those complaints falling under clause 10 of the RB-IOS (i.e. non-maintainable complaints) and complaints resolved as per the provisions of the clause 14(8)(a) to 14(8)(c) of the RB-IOS (i.e. complaint resolved / withdrawn).

Which entities are covered under the RB-IOS?

RB-IOS shall be applicable to the following Regulated Entities (REs) –

  • Commercial Banks
  • Regional Rural Banks 
  • State Co-operative Banks
  • Central Co-operative Banks 
  • Scheduled Primary (Urban) Co-operative Banks (UCBs)
  • Non-Scheduled UCBs with deposits size of ₹50 crore and above as on the date of the audited balance sheet of the previous financial year
  • Non-Banking Financial Companies (NBFCs) which –
    • Are authorised to accept deposits
    • Have customer interface, with an assets size of ₹100 crore and above as on the date of the audited balance sheet of the previous financial year
  • Non-bank Prepaid Payment Instruments Issuers
  • Credit Information Companies

The list of entities covered under RB-IOS is available at https://cms.rbi.org.in/cms/assets/Documents/RBIO_English_Portal.pdf

Which entities are excluded from the RB-IOS?

The following entities are not covered under the RB-IOS –

  • Bank in resolution or winding up or under All-Inclusive Directions
  • Housing Finance Company (HFC)
  • Core Investment Company (CIC)
  • Infrastructure Debt Fund-Non-Banking Financial Company (IDF-NBFC)
  • Non-Banking Financial Company - Infrastructure Finance Company (NBFC-IFC)
  • Non-Operative Financial Holding Company (NOFHC)
  • Primary Dealers (PDs)
  • Mortgage Guarantee Companies (MGC)
  • NBFC in resolution or winding up / liquidation, or under Directions of RBI

The list of entities not covered under RB-IOS is available at https://cms.rbi.org.in/cms/assets/Documents/CEPC_English_Portal.pdf

When can a complaint be lodged under the RB-IOS?

Any customer aggrieved by an act or omission of an RE resulting in deficiency in service may file a complaint under the RB-IOS personally or through an authorised representative other than an advocate unless the advocate is the aggrieved person.

What is deficiency in service?

Deficiency in service means a shortcoming or an inadequacy in any service, which the RE is required to provide statutorily or otherwise, which may or may not result in financial loss or damage to the customer.

What are the pre-conditions for lodging a complaint under the RB-IOS?

A complaint shall be maintainable only if the following conditions are satisfied –

  • Complainant had first made a complaint in writing or through any other mode to the RE concerned before making a complaint under the RB-IOS. The contacts details of REs are available at –
  • Complainant has not received any reply within 30 days or within the time specified by RBI, National Payments Corporation of India (NPCI), or under Card Network guidelines, if any, whichever is higher after the RE received the complaint; or the Complainant is not satisfied with the reply / resolution provided by the RE.
  • The complaint is made to the RBI Ombudsman within 90 days from the date on which the timeline specified above expires or the date of the last communication from the concerned RE, whichever is later.

How to lodge a complaint under the RB-IOS?

Complaints may be lodged in any of the following ways –

  • Online through the portal https://cms.rbi.org.in
  • Through the dedicated e-mail crpc@rbi.org.in
  • Sent in physical mode to Centralised Receipt and Processing Centre, 4th Floor, Reserve Bank of India, Sector -17, Central Vista, Chandigarh - 160017

What are the timelines for submission of response by the RE?

  • RE shall, on receipt of the complaint, file its written response to the averments in the complaint enclosing therewith copies of the documents relied upon, within 15 days before the Office of the RBI Ombudsman. 
  • In case the RE omits or fails to file its written response and documents within the time, the RBI Ombudsman may proceed ex-parte, based on the documents / material available on record, and issue an Award.  
  • Award means the direction issued by the RBI Ombudsman to the RE for specific performance of its obligations within the time limit prescribed.

How much compensation can be granted to the complainant?

  • RBI Ombudsman can provide a compensation up to ₹30 lakh. 
  • In addition, the RBI Ombudsman can also provide a compensation up to ₹3 lakh for the loss of the Complainant’s time, expenses incurred, harassment / mental anguish suffered, etc., if any, by the Complainant.

What are the timelines for acceptance of Award?

  • The Award shall lapse and be of no effect unless the Complainant furnishes a letter of acceptance of the Award in full and final settlement of the claim to the RE concerned, within 30 days from the date of receipt of the copy of the Award. 
  • RE shall comply with the Award and intimate compliance to the RBI Ombudsman or appeal to the Appellate Authority, within 30 days from the date of receipt of the letter of acceptance from the Complainant.

What are the timelines for filing an appeal?

  • There shall not be any right of appeal to an RE for an Award issued under clause 15(1)(a) (i.e. for non-furnishing of documents / information by the RE).  
  • RE may, aggrieved by an Award under clause 15(1)(b), prefer an appeal before the Appellate Authority within 30 days from the date of receipt of the Complainant’s letter of acceptance of the Award. 
  • An appeal may be filed by an RE only with the previous sanction of the Executive Director / Official of equal rank.
  • The Complainant may, aggrieved by an Award under clause 15(1), prefer an appeal before the Appellate Authority within 30 days of the date of receipt of the Award.

Who is the Appellate Authority?

Appellate Authority means the Executive Director in-Charge of Consumer Education and Protection Department (CEPD) of RBI.

Who is the Principal Nodal Officer of an RE?

  • RE shall appoint a Principal Nodal Officer at their head office who shall be of a rank not less than a General Manager or equivalent and shall be responsible for representing the RE and furnishing information on its behalf in respect of complaints filed against the RE. 
  • Any changes in appointment or contact details of Principal Nodal Officer shall be reported to CEPD, Central Office, RBI prior to or in case of exigency, immediately post any such change. 

What are the disclosure requirements for REs?

  • REs shall display the following at their offices / branches / places where the business is transacted –
    • Name and contact details (Telephone / mobile number and E-mail ID) of the Principal Nodal Officer and the address of Centralised Receipt and Processing Centre.
    • Salient features of the RB-IOS in English, Hindi and the regional language.
  • REs shall ensure that a copy of the RB-IOS is available in all its branches to be provided to the customer for reference upon request.  
  • REs shall display the following on its website –
    • Link to the RBI Ombudsman complaint lodging portal (https://cms.rbi.org.in).  
    • Salient features of the RB-IOS along with the copy of the RB-IOS.
    • Contact details of the Principal Nodal Officer.  

Who can be contacted in case of any query regarding complaints under the RB-IOS?

  • RBI’s toll-free Contact Centre (14448) provides information on the grievance redressal mechanism, assistance in filing complaints, and updates on existing cases. 
  • While the Contact Centre (CC) is available 24*7 through the Interactive Voice Response System (IVRS), the facility to connect to the CC personnel is available from Monday to Saturday (except National Holidays) from 8:00 am to 10:00 pm in Hindi, English and 10 regional languages.

From when shall the RB-IOS, 2026 be applicable?

RB-IOS, 2026 shall come into force with effect from July 01, 2026.


References

Reserve Bank of India. (2026, January 16). 'RBI issues Reserve Bank - Integrated Ombudsman Scheme, 2026'. Retrieved from https://rbi.org.in/Scripts/BS_PressReleaseDisplay.aspx?prid=62052

Reserve Bank of India. (2026, January 16). 'Reserve Bank - Integrated Ombudsman Scheme, 2026'. Retrieved from https://rbidocs.rbi.org.in/rdocs/content/pdfs/SCHEME16012026_A.pdf


Follow at - Telegram   Instagram   LinkedIn   X   Facebook

Labels:

Comments

Post a Comment

Popular Posts

Digital Payments – E-mandate Framework 2026

Reserve Bank of India (RBI) has issued e-mandate framework for digital payments. What is an e-mandate?  A mandate is a standard instruction that a customer provides to his / her issuing bank and other institutions allowing them to automatically debit the mentioned amount from his / her bank account. e-mandate is the electronic version of it. To whom shall the framework be applicable? The framework shall be applicable to Payment System Providers and Payment System Participants. To which transactions shall the framework be applicable? The framework shall be applicable to processing of recurring transactions, domestic or cross-border, using cards / Prepaid Payment Instrument (PPI) / Unified Payments Interface (UPI). What are the guidelines for registration and revocation of e-mandate? A customer desirous of opting for e-mandate facility shall undertake a one-time registration process. The mandate shall be registered only after successful validation of additional factor of authenticati...
Post a Comment
Read more

Utkarsh 2029

Reserve Bank of India (RBI) has published its medium-term strategy framework – Utkarsh 2029, for the period April 2026 to March 2029. Utkarsh RBI had first formulated its medium-term strategy framework, viz. ‘Utkarsh 2022’ for the period 2019-2022 in July 2019, replacing its annual action plans as the latter spanned over a short period, insufficient to pursue strategic objectives.  The strategic framework contained, inter alia, RBI’s Mission, Core Purpose, Values and Vision Statements, reiterating RBI’s commitment to the Nation. It became a medium-term strategy document guiding RBI’s progress towards realisation of the identified milestones. The subsequent strategy framework, i.e., ‘Utkarsh 2.0’, spanned the period 2023-25. Utkarsh 2029  Utkarsh 2029 is the medium-term strategy framework for the period April 2026 to March 2029. Utkarsh 2029 has a 3-layered structure consisting of strategy pillars guided by the vision and values of RBI. Vision of Utkarsh 2029 – Continue excelle...
Post a Comment
Read more

Treatment of Wilful Defaulters and Large Defaulters

Reserve Bank of India (RBI) had issued the directions on treatment of wilful defaulters and large defaulters. To whom shall the directions be applicable? The directions shall be applicable to the following Regulated Entities (REs) – Commercial Banks  Small Finance Banks (SFBs) Local Area Banks (LABs) Regional Rural Banks (RRBs) Primary (Urban) Co-operative Banks (UCBs) Rural Co-operative Banks – State Co-operative Banks (StCBs) Central Co-operative Banks (CCBs) All India Financial Institutions (AIFIs) regulated by RBI – Export Import Bank of India (EXIM Bank) National Bank for Agriculture and Rural Development (NABARD) National Housing Bank (NHB) Small Industries Development Bank of India (SIDBI) National Bank for Financing Infrastructure and Development (NaBFID) Non-Banking Financial Companies (NBFCs) categorized as Middle Layer and above layers – Deposit taking NBFC (NBFC-D) NBFC-Investment and Credit Companies (NBFC-ICC) NBFC-Factor  NBFC-Micro Finance Institutions (NBFC-MF...
Post a Comment
Read more

Credit Information Reporting

Reserve Bank of India (RBI) had issued directions on credit information reporting by the regulated entities. What are Credit Information Companies (CICs)? Credit Information Companies (CICs) mean companies that have been granted a certificate of registration by RBI under section 5 of the Credit Information Companies (Regulations) Act, 2005 (CICRA).  The following CICs are registered with RBI – CRIF High Mark Credit Information Services Private Limited Equifax Credit Information Services Private Limited Experian Credit Information Company of India Private Limited TransUnion CIBIL Limited What are Credit Institutions (CIs)? Credit Institutions (CIs) mean the following institutions – Commercial Banks  Small Finance Banks (SFBs) Local Area Banks (LABs) Regional Rural Banks (RRBs) Primary (Urban) Co-operative Banks (UCBs) Rural Co-operative Banks – State Co-operative Banks (StCBs) Central Co-operative Banks (CCBs) All India Financial Institutions (AIFIs) regulated by RBI – Export I...
Post a Comment
Read more

Payments Vision 2028

Reserve Bank of India (RBI) has released the Payments Vision 2028. Payments Vision RBI has been publishing Payments Vision documents since 2001. These documents provide a strategic direction for development of the payment and settlement systems in India. The previous vision document covered the period up to 2025. Payments Vision 2028 Duration – up to December 2028 Theme – Shaping India’s Payment Frontier Focus Areas –  User empowerment Safeguards against fraud Efficiency of cross-border payment frameworks  Promoting ease of doing business Consists of 15 specific initiatives to be taken up –   Specific initiatives Inclusivity and resilience Framework for interoperability in Trade Receivables Discounting System (TReDS) Safety in digital payments Enabling or disabling transactions across digital payment modes via issuer channels Shared responsibility framework with both the customer’s bank (issuer) and the beneficiary’s bank jointly be...
Post a Comment
Read more