Problems with banks, credit cards, loans or payment apps are common. If the company does not resolve your complaint, you can approach the RBI Ombudsman for free. Here is how the system works.
The scheme
The Reserve Bank – Integrated Ombudsman Scheme, 2021 was launched in November 2021. It merged three earlier ombudsman schemes into one, under the idea of One Nation One Ombudsman. It covers:
- Commercial banks, regional rural banks and many cooperative banks.
- Non banking financial companies (NBFCs) above a size threshold.
- Payment system participants, like prepaid wallets and card networks.
- Credit information companies, which were added later.
What you can complain about
Any deficiency in service, such as:
- Failed transactions where money was debited but not credited.
- Unauthorised or fraudulent transactions.
- Unfair charges or not following RBI rules.
- Delays in loan disbursal or closure documents.
- Credit card issues and recovery practices.
- Errors in credit reports.
Before you approach the Ombudsman
- First file a written complaint with the bank or company.
- Wait 30 days for a reply.
- If there is no reply, or you are not satisfied, you can go to the Ombudsman.
- File within one year of receiving the company’s reply, or within one year and 30 days of the original complaint if there was no reply.
Also Read: How to File a Consumer Complaint Online: National Consumer Helpline 1915 and e-Daakhil Step by Step | UPI Failed Transaction but Money Debited? How to Get a Refund and Where to Complain
Cases not covered
- Matters already in court or decided by a court or other forum.
- Complaints about commercial judgment, such as loan rejection, without a service deficiency.
- Complaints filed without first approaching the entity.
How to file
- Visit the RBI Complaint Management System at cms.rbi.org.in.
- Register with your mobile number.
- Choose the entity and enter details of the complaint.
- Upload supporting documents, like statements and your earlier complaint.
- Submit and note the complaint number.
You can also send a complaint by email or post to the Centralised Receipt and Processing Centre of the RBI. The RBI contact centre number 14448 offers guidance.
What the Ombudsman can do
- Try to settle the complaint through conciliation.
- Pass an award directing the entity to fix the problem and pay compensation for loss, within limits set in the scheme, including compensation for harassment and expenses.
There is no fee for filing a complaint.
Appeal
If you or the entity disagree with the award, an appeal can be filed with the Appellate Authority, an Executive Director of the RBI, within the time allowed.
Bottom line
Complain to your bank or company first. If it does not resolve the issue in 30 days, file free with the RBI Ombudsman on the CMS portal.
Source / स्रोत: RBI Complaint Management System, Reserve Bank of India, Press Information Bureau
