RBI cautions public about commitments by third-party for early redressal of grievances on payment of fees

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  • Last Updated on 10 March, 2022

Integrated Ombudsman Scheme 2021; RB-IOS; RBI

Press Release: 2021-2022/1836, Dated: 09.03.2022

The RBI has cautioned the general public about the Integrated Ombudsman Scheme 2021 (RB-IOS) conveying to the public to lodge their complaints against Regulated Entities (REs) through third parties for a charge/fee. RBI clarified that it does not have any such arrangement with any entity for redressal of any grievances against the Regulated Entities (RE). RB-IOS is a cost-free grievance redress mechanism, which does not involve payment of fees or charges in any form or manner.

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