RBI releases the Annual Report of the Ombudsman Schemes 

RBI releases the Annual Report of the Ombudsman Schemes 

Part of: GS Prelims and GS – III – Economy

In news

• The Reserve Bank of India (RBI) released the Annual Report of the Ombudsman Schemes for 2019-20 recently.
• RBI has 3 Ombudsmen- Banking, Non-Banking Finance Company (i.e. NBFC) and digital transactions. 
• A common man can approach these Ombudsmen for their grievances.
• These Schemes are being merged and integrated into a single scheme which will be rolled out from June 2021.
• There was an increase of around 65% in the receipt of complaints. 
• 92% of them have been resolved.

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