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customers of housing finance companies Can get the benefit of getting their complaints resolved soon reserve Bank of India‘s Integrated Ombudsman Scheme As the central bank is in the process of widening the scope of its customer grievance redressal mechanism.
reserve Bank of IndiaThe annual report of the Lokpal scheme states that its consumer education and protection department is working towards expanding the scheme. hfc, This can be done by March 31, 2023.
Last year, the coverage of the Integrated Ombudsman Scheme was extended to credit information companies and non-scheduled urban co-operative banks with deposit sizes of Rs 50 crore or more.
In November 2021, RBI created a single platform for both bank and non-bank customers to get speedy resolution of their complaints. Three erstwhile Ombudsman Schemes – Banking Ombudsman Scheme 2006, Ombudsman Scheme for Non-Banking Financial Companies 2018 and Ombudsman Scheme for Digital Transactions 2019 – were integrated into a single scheme.
RBI stated that the quantum of complaints received under the Ombudsman schemes increased by 9.39% to 4.18 lakh during the year 2021-22 as compared to the previous year.
Of these, 3.05 lakh complaints were disposed of by 22 offices of the RBI Ombudsman.
The maximum number of complaints were related to digital modes of payment and transactions, accounting for 42.12% of the total complaints received during the year.
The disposal rate of complaints increased to 97.97% in 2021-22 as compared to 96.59% in 2020-21.
The Annual Report states, “Appropriate regulatory initiatives with regard to financial consumer protection will be further enhanced to address and improve the grievance redressal mechanism of the RE as well as the RBI, and measures for the implementation of the Framework for Financial Education.” will be extended.” ,
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