RBI - Integrated Ombudsman Scheme 2026

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RBI integrated Ombudsman Scheme 2026

July 01, 2026

Salient Feature

In the interest of the public and with the objective of providing a cost-effective, expeditious, non-adversarial alternate grievance redress mechanism for the resolution of complaints against Regulated Entities, the Reserve Bank of India has introduced the Reserve Bank – Integrated Ombudsman Scheme, 2026 (“IOS 2026”). This Scheme supersedes and repeals the earlier Reserve Bank – Integrated Ombudsman Scheme, 2021 (“IOS 2021”).

1. Salient Features of the Scheme

• Integrated Framework: It is no longer necessary for a complainant to identify under which scheme he/she should file a complaint with the Ombudsman, as the schemes are integrated.
• Deficiency in Service Defined: The Scheme defines ‘deficiency in service’ as a shortcoming or an inadequacy in any service, which the Regulated Entity is required to provide statutorily or otherwise, which may or may not result in financial loss or damage to the customer. Complaints are subject to a specified list of maintainability conditions and exclusions under clause 10 of the Scheme.
• No Localized Jurisdiction: The Scheme has done away with the localized jurisdiction of each ombudsman office, allowing central assignment of registered complaints. A Centralised Receipt and Processing Centre has been set up at RBI, Chandigarh for receipt and initial processing of physical and email complaints.
• No Financial Limit on Dispute: There is no limit on the amount in a dispute that can be considered under the scheme.
• Compensation Caps: The Scheme allows a compensation for consequential loss up to ₹30 lakh and up to ₹3 lakh for loss of time, expenses incurred, and harassment/mental anguish suffered.
• Representation: The responsibility of representing the Regulated Entity and furnishing information would be that of the Principal Nodal Officer at their head office, who shall be of a rank not less than a General Manager or equivalent.
• Appeal: The Company will not have the right to appeal in cases where an Award is issued by the ombudsman against it under clause 15(1)(a) for non-furnishing of documents/information or the matter not getting resolved under clause 14(8) based on the documents and material placed before the RBI Ombudsman. Provided that a reasonable opportunity of being heard (oral or in writing) is given to both the parties before passing an Award.
• Appellate Authority: The Executive Director-in-Charge of the Consumer Education and Protection Department of RBI would be the Appellate Authority under the Scheme.

2. Grounds for Filing a Complaint

A customer aggrieved by an act or omission of the Company resulting in deficiency in service may file a complaint personally or through an authorised representative if:

• The complaint has been wholly or partly rejected by the Company; or
• The response provided by Company is unsatisfactory to the complainant; or
• No response has been received from the Company within 30 days from the date of lodging the complaint (or within the time specified by RBI, whichever is higher).

3. Grounds for non-maintainability of a Complaint:

Complaints involving the following matters are excluded from the purview of the Scheme and shall be rejected at the outset:

• matters related to commercial judgment or decision of the Company;
• a dispute between a vendor and the Company;
• grievances against Management or Executives of the Company;
• a grievance arising from an action of the Company in compliance with the orders of a judicial/quasi-judicial or statutory or law enforcing authority;
• a service not within the regulatory purview of the Reserve Bank;
• a dispute between Regulated Entities;
• a dispute involving the employee-employer relationship of a Company;
• a grievance for which a remedy has been provided in Section 18 of the Credit Information Companies (Regulation) Act, 2005; and
• a grievance pertaining to customers of a Company not included under the Scheme.

A complaint under the Scheme shall be maintainable only if the conditions prescribed under clause 10(1) of the Scheme are satisfied.

4. Modes & Procedure for Filing Complaints

Complaints under this scheme can be filed in electronic or physical mode using the following channels:

5. Time Limits for Filing a Complaint

A complaint is maintainable before the RBI Ombudsman only if:

• The complaint is made to the RBI Ombudsman within 90 days from the date on which the 30-day response timeline expires, or from the date of the last communication from the Company, whichever is later.
• The initial complaint to the Company was made before the expiry of the period of limitation prescribed under the Limitation Act, 1963 for such claims.

A copy of the Scheme is available on the RBI website (www.rbi.org.in) and on the CMS portal (https://cms.rbi.org.in) and on Company’s website (https://www.unifinz.in/).

Name and Contact details of the Principal Nodal Officer of the Company