At present, the framework for alternate dispute resolution consists of three separate Ombudsman schemes for banks, NBFCs and non-bank PPIs…reports Asian Lite News
The Reserve Bank of India (RBI) will roll out the Integrated Ombudsman Scheme for banks, NBFCs and non-bank prepaid payment issuers (PPIs) in June this year.
At present, the framework for alternate dispute resolution consists of three separate Ombudsman schemes for banks, NBFCs and non-bank PPIs. These three schemes are operated by the RBI from 22 Ombudsman offices located across the country.
“To make the Ombudsman mechanism simpler, efficient and more responsive, it has been decided to integrate the three Ombudsman schemes and introduce centralised processing of grievances following a ‘One Nation One Ombudsman’ approach,” the RBI Governor Shaktikanta Das said on Friday.
He noted that the move is intended to make the process of redress of grievances easier by enabling the customers to register their complaints under the integrated scheme, with one centralised reference point.
In another consumer-centric move, the RBI has decided that with enhanced penetration and efficiency of digital payments, major payment system operators would be required to facilitate setting-up of a centralised industrywide ’24×7′ helpline for addressing customer queries in respect of various digital payment products and give information on available grievance redress mechanisms.
Going forward, the facility of redress of customer grievances through the helpline shall be considered. This is envisaged to enhance consumer trust and confidence in the digital payments ecosystem.
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