Business Standard

RBI opens third office of Ombudsman in New Delhi


Press Trust of India Mumbai
The Reserve Bank Friday said it has opened third office of the Banking Ombudsman and Ombudsman for Digital Transactions (ODT) at its New Delhi office.
RBI said the third office has been opened with a view to meet the growing demand for resolution under the two schemes.
While announcing the ODT in December last year, RBI had said that there was an emerging need for a dedicated, cost-free and expeditious grievance redressal mechanism as the digital mode for financial transactions was gaining traction in the country.
The Banking Ombudsman scheme is an expeditious and inexpensive forum for bank customers for resolution of complaints relating to certain services rendered by banks.
The scheme is introduced under Section 35 A of the Banking Regulation Act, 1949 by RBI with effect from 1995.

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First Published: Jun 28 2019 | 9:25 PM IST

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