RBI New Update: The Reserve Bank of India (RBI) has released the Revised Reserve Bank Integrated Ombudsman Scheme 2026 for better and faster resolution of customer complaints. The objective of this new scheme is to resolve complaints against banks and other RBI-regulated institutions in a shorter time and at a lower cost. This scheme will be implemented across the country from July 1, 2026.
RBI Issues Circular
The circular issued by the RBI states that the complaint process under this scheme will be simplified. Hearings will be brief, and strict rules of evidence will not be mandatory. The aim is to ensure that ordinary customers can get justice without much hassle.
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RBI to Make New Appointments
Under this scheme, the RBI will appoint one or more of its officers as RBI Ombudsman and RBI Deputy Ombudsman. These officers will typically have a tenure of three years. They will be responsible for hearing and resolving all complaints received under the scheme.
Complaint Center to be Established
The RBI will establish one or more centralized receipt and processing centers. All complaints will be received and processed through these centers. Customers will also be able to register their complaints online.
While deciding on complaints, the RBI Ombudsman and Deputy Ombudsman will consider banking laws, good banking practices, and the rules and guidelines issued by the RBI from time to time.
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No Limit on the Amount in Dispute
There is no limit on the amount in dispute under this scheme. The RBI Ombudsman has the authority to decide on or mediate cases involving any amount.
However, compensation of up to a maximum of Rs. 30 lakh can be awarded for the actual loss suffered by the complainant. In addition, there is a provision for awarding additional compensation of up to Rs. 3 lakh for mental distress, waste of time, or inconvenience.
