RBI issues directions for the appointment of the Internal Ombudsman for all CICs
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- Last Updated on 10 October, 2022
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Circular no. RBI/2022-23/124 CEPD.PRD.No.S806/13-01-008/2022-23, dated: 06.10.2022
Earlier, the RBI vide Statement on Development and Regulatory Policies dated August 5, 2022 announced the decision to bring Credit Information Companies (CICs) under the Internal Ombudsman framework. Accordingly, now RBI has issued the directions for the appointment of an Internal Ombudsman for all the CICs with a view to strengthen the internal grievance redress mechanism of CIC. This would enable a review of customer’s complaints before their rejection, by an independent apex level authority within the CICs. These directions shall be effective from 01.04.2023.
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