RBI today clarified that the Central Bank does not have arrangements with third parties to redress grievances against RBI-regulated entities. The above clarification was given in view of instances of misinformation being spread through certain sections of the social media about the Reserve Bank – Integrated Ombudsman Scheme 2021 (RB-IOS) has come to the notice of the RBI. These messages are conveying to the public at large to lodge their complaints against entities regulated by RBI through third parties for a charge/fee or otherwise for early redress of grievances, it said.

The responsibility of representing the Regulated Entity and furnishing information in respect of complaints filed by customers against the Regulated Entity would be that of the Principal Nodal Officer in the rank of a General Manager in a Public Sector Bank or equivalent. “RBI has laid down a cost-free grievance redress mechanism under RB-IOS which does not involve payment of fees or charges in any form or manner. Customers having grievances against Res(Regulated Entities) for deficiency in services, which is not redressed satisfactorily or in a timely manner by the REs can directly lodge their complaint on the Complaint Management System (CMS) portal (https://www.rbi.org.in) or by e-mail at crpc@rbi.org.in or in physical mode at the ‘Centralised Receipt and Processing Centre’ (CRPC) set up at RBI, 4th Floor, Sector 17, Chandigarh – 160017, the circular said.

Under Integrated Ombudsman Scheme 2021(RB-IOS), it will no longer be necessary for a complainant to identify under which scheme he/she should file a complaint with the Ombudsman.        The Scheme defines ‘deficiency in service’ as the ground for filing a complaint, with a specified list of exclusions. Therefore, the complaints would no longer be rejected simply on account of “not covered under the grounds listed in the scheme”. The Scheme has also done away with the jurisdiction of each ombudsman’s office.  Complainants having queries on RB-IOS or desiring information relating to their complaints lodged through the above methods can reach the Contact Centre of RBI at toll-free #14448 (currently available from 9:30 am to 5:15 pm on working days) in Hindi, English, and nine regional languages (Bengali, Gujarati, Kannada, Odia, Malayalam, Marathi, Punjabi, Tamil, and Telugu). The status of complaints can also be tracked on the CMS portal.

Related Posts:

Model Policy on Grievance RedressalInternal Machinery to Handle Customer Complaints/GrievancesInternal Ombudsman
The RBI – Integrated Ombudsman SchemeHow do you complain to the RBI-integrated Ombudsman?Modified Ombudsman Scheme

Surendra Naik

Share
Published by
Surendra Naik

Recent Posts

Rectification of Errors when Books are Closed, Adjusting and Closing Entries

Before closing the ledger accounts, if the error is found you can rectify it without…

5 hours ago

Trial Balance: Classification of Errors, Location of Errors, and Rectification of Errors

The errors in accounting take place due to wrong posting of transactions, wrong totaling or…

20 hours ago

Bank Holidays 2025: Karnataka State

“Under the explanation to Section 25 of the Negotiable Instruments Act, 1881 (Central Act 26…

2 days ago

What are Suspense Account and rectification in Trial Balance?

When the trial balance does not tally due to the one-sided errors in the books,…

3 days ago

Explained: Reasons for disagreement of a Trial Balance

Errors in Trial Balance are mistakes made during the accounting process that cannot always be…

3 days ago

Bank Holidays 2025: GOA

 “Under the explanation to Section 25 of the Negotiable Instruments Act, 1881 (Central Act 26…

3 days ago