What is integrated ombudsman scheme?
Topic. Indian Economy
Inclusive Growth investment models
Gs-3 Gs2 paper
It was launched by the Prime Minister Sri Narendra Modi on 11th November 2021 to give an online plateform to consumers for filing complaint regarding deficiency in services rendered by the entity regulated by the RBI free of cost.
It is an integrated improved grievance redressal mechanism. It has subsumed all existing redressal mechanism to make a single redressal mechanism all over India as "one nation one ombudsman system".
Integrated ombudsman scheme seeks to merge all other ombudsman schemes making it a one nation one ombudsman system for the entire financial sector
The banking ombudsman scheme 2006, the ombudsman scheme for non banking financial companies 2018, and the ombudsman scheme for the digital transection 2019, have been merged and made integrated ombudsman scheme 2021.
Complaints can be filled if an entity is not redressed within time limit of 30 day or not satisfied consumers through this given link
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Sources
https://m.rbi.org.in/Scripts/BS_PressReleaseDisplay.aspx?prid=52549
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