RBI releases the Annual Report of the Ombudsman Schemes
Part of: GS Prelims and GS – III – Economy
- 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.