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 ....
Do You Want to Read More?
Subscribe Now
To get access to detailed content
Buy June 2019 Issue

Already a Member? Login here

Take Annual Subscription and get the following Advantage
The annual members of the Civil Services Chronicle can read the monthly content of the magazine as well as the Chronicle magazine archives.
Readers can study all the material before the last six months of the Civil Services Chronicle monthly issue in the form of Chronicle magazine archives.
Be an Annual Subscriber

Related Content

News Snippets