The Reserve Bank on Friday announced it will be integrating consumer grievances redressal under a single ombudsman as against three schemes working at present.
There are dedicated ombudsman schemes devoted to consumer grievance redressal in banking, non-bank finance companies and digital transactions, respectively, at present.
“To make the alternate dispute redress mechanism simpler and more responsive to the customers of regulated entities, it has been decided to implement, inter alia, integration of the three Ombudsman schemes and adoption of the ‘One Nation One Ombudsman’ approach for grievance redressal,” Governor Shaktikanta Das said on Friday.