Key facts
Currently, there are dedicated ombudsman schemes for the consumer
grievance redressal in the banking, non-bank finance companies and
digital transactions.
Now, the bank has decided to integrate the three Ombudsman schemes.
The central bank has also operationalized the complaint management
system (CMS) portal as a one stop solution. This portal will be used for
the alternate dispute resolution of the customer complaints which are
not resolved by regulated entities.
Objectives of the move
The central bank has decided to adopt the approach of “One Nation, One
Ombudsman” with the objective of making the process of redress of grievances
easy. The approach will make the grievance process easy by enabling the
customers to register the complaints under the integrated scheme with a
centralised reference point.
