Banking issues like hidden charges unexpected fees or loan disputes can create stress for customers. If you are unsure how to resolve these problems, here is a detailed guide to filing complaints against banks using RBI’s Ombudsman Scheme.

What Is RBI’s Ombudsman Scheme.?

The Reserve Bank of India (RBI) introduced the Ombudsman Scheme to address customer grievances regarding banks and NBFCs (Non-Banking Financial Companies). Under this scheme customers can lodge complaints free of cost.

Key Features

- Covers issues like hidden charges, high interest rates or poor customer service.

- Aims to resolve complaints efficiently and fairly.

- Recorded over 703,000 complaints in the financial year 2023 showing a 68.2% rise from the previous year.

How to File a Complaint

Step 1: Approach Your Bank First,

-  Report the Problem

   Contact your bank’s grievance redressal system. You can visit the branch, call their helpline or use their online portal.

- Obtain a Reference Number

   After filing the complaint you will receive a unique reference number. Keep this safe for future follow ups.

Step 2: Escalate to RBI If Unresolved

- If the bank doesn’t resolve your complaint within 30 days or their response is unsatisfactory, you can escalate the matter to RBI.

- Visit the RBI Complaint Management System (CMS) portal at http://cms.rbi.org.in to file your grievance.

Important Points to Remember

- First Contact Your Bank: Filing a complaint directly with RBI without approaching the bank may result in rejection.

- Maintain Records: Always keep copies of your complaint and communication with the bank.

- Free of Cost: Filing complaints under the Ombudsman Scheme is completely free.

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RBI’s Role in Resolving Complaints

RBI ensures that banks follow transparent practices and address customer issues fairly. The Ombudsman Scheme provides a structured platform for customers to raise concerns and seek resolution.

Banking problems can be frustrating, but with RBI’s Ombudsman Scheme resolving them is easier than ever. Follow these steps to ensure your issues are addressed quickly and effectively.