The Reserve Bank of India (RBI) on July 01, 2026, updated the Reserve Bank - Integrated Ombudsman Scheme, 2026.
The Reserve Bank – Integrated Ombudsman Scheme, 2026 (RB-IOS, 2026), effective from July 1, 2026, is a cost-free, expeditious, and non-adversarial grievance redress mechanism for customers of specified Regulated Entities (REs) such as banks, select NBFCs, prepaid payment instrument issuers, and credit information companies. It replaces the RB-IOS, 2021, while complaints filed prior to this date and related proceedings will continue under the earlier scheme.
The Scheme operates under the RBI’s Alternate Grievance Redress (AGR) Framework, which includes Ombudsman Offices, the Centralised Receipt and Processing Centre (CRPC), and Consumer Education and Protection Cells. Customers can file complaints online through the CMS portal, via email, or through physical submission. Complaints must first be raised with the concerned RE, and can be escalated to the Ombudsman if unresolved within prescribed timelines or if the response is unsatisfactory.
RB-IOS, 2026 provides several benefits, including a centralized complaint system, jurisdiction-neutral processing under the “One Nation One Ombudsman” approach, online tracking, structured settlement mechanisms, and the ability to pass Awards with compensation up to ₹30 lakh for losses and ₹3 lakh for harassment or inconvenience. However, certain complaints such as frivolous, incomplete, time-barred, or those already under judicial consideration are not maintainable under the Scheme.
Complaints are resolved through settlement, rejection, or issuance of an Award after due examination. Appeals against Awards can be made within 30 days to the Appellate Authority. The Scheme ensures transparency, accessibility, and efficiency in grievance redress, while maintaining clear eligibility, timelines, and procedural requirements for complainants.
