RBI Extends Ombudsman Scheme to Non-deposit taking NBFCs

  • On 26th April, 2019, the Reserve Bank of India extended the coverage of Ombudsman scheme to non-deposit taking non-banking financial companies (NBFCs) having asset size of Rs 100 crore or higher.
  • It will help provide a cost-free and expeditious complaint redressal mechanism relating to deficiency in the services by NBFCs covered under the scheme.
  • The ombudsman scheme was earlier operationalized for deposit-accepting NBFCs.
  • The scheme also provides for an Appellate mechanism under which the complainant / NBFC has the option to appeal against the decision of the Ombudsman before the appellate ....
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