Tag: Banking Ombudsman

Wondering what happens after you file an RBI complaint? Learn the step-by-step process, resolution timelines, escalation options, and possible outcomes in this detailed guide.

Banks and Non-Banking Financial Companies (NBFCs) play a crucial role in our financial lives, providing us with various services like loans and credit facilities. While most of these institutions maintain ethical practices, some unfortunate individuals might experience recovery harassment during debt collection. Unfair tactics, incessant calls, and aggressive behavior can turn an already stressful situation into a nightmare. If you find yourself facing such an issue, it’s essential to know your rights and how to complain effectively against a bank or NBFC for recovery harassment.

The RBI Integrated Ombudsman Scheme 2021 is a framework introduced by the Reserve Bank of India (RBI) to enhance and streamline the grievance redressal mechanism for customers of banks and Non-Banking Financial Companies (NBFCs). The scheme consolidates and replaces the earlier separate Ombudsman schemes for banks and NBFCs, aiming to provide a unified and efficient platform for complaint resolution.