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RBI launches Ombudsman scheme for NBFCs

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KalingaTV News Network

Mumbai: The Reserve Bank of India (RBI) has launched Ombudsman Scheme for non-banking financial companies (NBFCs) for redressal of complaints against them.

The RBI, in a statement, said the scheme will provide a cost-free and expeditious complaint redressal mechanism relating to deficiency in the services by NBFCs covered under the scheme.

The bank said the scheme will cover all deposit-taking NBFCs, and based on the experience gained, it would extend it to cover NBFCs having asset size of 100 crore rupees and above with customer interface.

The offices of the NBFC ombudsmen will function at four metro centres – New Delhi, Mumbai, Kolkata and Chennai.

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