The Reserve Bank of India (RBI) has established the Integrated Ombudsman Scheme to provide cost-free redressal of customer complaints against entities regulated by the RBI, including banks, NBFCs, and payment system operators. This scheme ensures that consumers have a platform to address grievances related to deficiencies in services.

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Key Consumer Rights

1. Right to Fair Treatment: Consumers have the right to be treated fairly and without discrimination by financial institutions.

2. Right to Transparency: Financial institutions must provide clear and accurate information about their products and services, including terms and conditions, fees, and charges.

3. Right to Privacy: Consumers’ personal and financial information must be kept confidential and secure by financial institutions.

4. Right to Grievance Redressal: Consumers can lodge complaints with the RBI Ombudsman if they experience deficiencies in service from their bank, NBFC, or payment system operator.

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How to Report Fraud

If you suspect fraud or have been a victim of fraudulent activities, you can report it to the RBI Ombudsman under the Credit Information Companies (Regulation) Act, 2005 (CIC Act). The process is as follows:

1. Timeline: You must first file a complaint with your bank or NBFC. If your complaint is not resolved to your satisfaction or you do not receive a response within 30 days, you can escalate it to the RBI Ombudsman.

2. Methods to Report:

   • Online: File a complaint online at the RBI’s CMS portal at https://cms.rbi.org.in. Fill out the online complaint form with details of the complaint, the bank’s name, phone numbers, and bank account details.

   • By Post: Submit a physical complaint to the Centralised Receipt and Processing Centre (CRPC) at the Reserve Bank of India, 4th Floor, Sector 17, Chandigarh 160017. The complaint must be signed by the complainant or their authorized representative.

   • By Email: Send an email to the Banking Ombudsman’s email address, which is available in the public domain.

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When reporting fraud, provide as much detail as possible, including:

• Description of the fraudulent activity.

• Dates and times of the incidents.

• Names of individuals or entities involved.

• Any supporting documents or evidence.

 

Other Types of Complaints

Consumers can report a variety of issues to the RBI Ombudsman, including but not limited to:

1. Cheque/Draft Issues: Non-payment or inordinate delay in the payment or collection of cheques, drafts, or bills1.

2. Currency Matters: Refusal to accept small denomination notes or coins without sufficient cause, or charging commission for the same1.

3. Remittances: Delay or non-payment of inward remittances1.

4. Loans and Advances: Complaints related to loans and advances, including delays in sanctioning or disbursing loans, and non-compliance with prescribed timelines for loan processing1.

5. Credit Card Issues: Unauthorized transactions, billing errors, or non-reversal of incorrect charges on credit cards1.

6. Service Deficiencies: General deficiencies in banking services, such as non-adherence to prescribed working hours, failure to provide promised banking facilities, or improper behavior by bank staff1.

7. Account Operations: Issues related to the operation of deposit accounts, including delays in updating passbooks or statements, and wrongful debits1.

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Against Whom Can Complaints Be Lodged?

Consumers can lodge complaints against the following regulated entities:

1. Banks: Including public sector banks, private sector banks, foreign banks operating in India, regional rural banks, and scheduled primary (urban) cooperative banks.

2. Non-Banking Financial Companies (NBFCs): Including deposit-taking and non-deposit-taking NBFCs.

3. Payment System Participants: Including prepaid payment instrument issuers, card networks, and other entities involved in payment systems.

4. Credit Information Companies: Entities that collect and maintain credit information of individuals and businesses.

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Steps in the Complaint Process

1. Lodging the Complaint: Submit your complaint through any of the methods mentioned above.

2. Acknowledgment: You will receive an acknowledgment of your complaint with a unique complaint number.

3. Investigation: The Ombudsman will investigate your complaint by interacting with the concerned financial institution.

4. Resolution: The Ombudsman will provide a resolution based on the findings of the investigation. If you are not satisfied with the resolution, you can appeal to the Appellate Authority within 30 days.