RBI Issues Master Direction on Internal Ombudsman for Regulated Entities
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- Last Updated on 2 January, 2024
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Press Release: 2023-2024/1588, Dated 29-12-2023
RBI has issued Master Direction – RBI (Internal Ombudsman for Regulated Entities) Directions, 2023 to harmonise instructions applicable to various regulated entities on the Internal Ombudsman (IO) mechanism. Directions bring in uniformity in matters like timeline for escalation of complaints to the IO, exclusions from escalating complaints to the IO, minimum qualifications for appointing the IO etc. Instructions are expected to further strengthen IO mechanism.
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