New Delhi: Non-scheduled urban co-operative banks have been included in the Reserve Bank-Integrated Ombudsman Scheme, a consumer grievance redress mechanism of different regulated entities, launched on Friday.
According to 2006 rules, scheduled urban co-operative banks are part of this system. Besides the scheduled banks, the Reserve Bank of India has now brought non-scheduled primary (urban) co-operative banks with a minimum deposit size of Rs 50 crore and above under the scheme to redress consumers' complaints against such institutions. Kerala has 60 such banks.
The Reserve Bank-Integrated Ombudsman Scheme, inaugurated by Prime Minister Narendra Modi, merges regulated authorities such as banks, Non-banking Financial Companies (NBFCs) and digital payments system operators, and brings them on a single platform, helping consumers to get speedy solutions to their grievances.
Complaints could be forwarded electronically or physically in any language to any of the addresses given below:
•Website: cms.rbi.org.in
•Email: crpc@rbi.org.in
•Postal address: Centralised Receipt and Processing Centre, The Reserve Bank of India, 4th Floor, Sector 17, Chandigarh - 160017
Toll-free number
The proforma to make complaints, and the banks falling under the scheme, are available on the website. Additionally, a toll-free number, too, has been set up to clarify doubts. The consumer could choose from any of the 10 languages, including Malayalam. More languages will be added in due course.
• Toll-free number: 14448 (9.45 am to 5.15 pm).
Compensation of up to Rs 20 lakh
The ombudsman could award compensation of up to Rs 20 lakh to account holders for losses incurred. Additionally, it can also award compensation of up to Rs 1 lakh for loss of time and mental agony caused by the institution(s).
The consumer could approach the ombudsman if the bank concerned rejects or fails to act on complaints within 30 days of receiving them. The ombudsman's service is free of cost, and the institution against whom the complaint has been made, should provide a reply within 15 days to the authority.
