Ombudsman

When a bank does not respond to the consumers regarding their issues, then they can get help from this RBI Ombudsman

A guide to how banks, insurers, brokers and tax officials are supposed to listen to you

Our top stories this week explain how financial institutions are supposed to solve customers' complaints and what to wear in summer

Ombudsman for aviation sector a good move

Move to address flier grievances

The suspension will not affect the company's performance, Chairman Amarendu Prakash said in a statement

"A well-functioning Internal Ombudsman mechanism is beneficial for all stakeholders"

Airlines free to charge fees for preferential seats during web check-in: Aviation secretary

A policyholder in India can now register complaints that are related to compensation claims of up to Rs 50 lakh with insurance ombudsman offices in India. Earlier, the maximum compensation that ombuds

Insurance companies have to keep a check on incidents of mis-selling, Insurance Ombudsman Delhi region Sunita Sharma said on Monday. Stressing that customers are the king and insurers are in existence because of customers, she said companies should avoid mis-selling products. Sharma, a former LIC MD, said usually companies engage customers till the free look period and disappear after that as they cannot make a claim of mis-selling after that. Policyholders are allowed a period of at least 15 days (30 days in case of electronic policies and policies sourced through distance mode) from the date of receipt of the policy to review its terms and conditions and to return the same if not acceptable. Insurance Ombudsman is a quasi-judicial grievance redressal machinery to redress complaints of insured persons against life and non- life insurance companies. Observing that the Self Contained Note (SCN) does not come on time from insurers, she said it is advised that these should be sent to

The Delhi centre disposed of all the 5,257 complaints it got during the year

Appalled at the "high-handed approach" of the RBI ombudsman in a complaint against a bank, the Delhi High Court has said the Ombudsman Scheme cannot be reduced to a tantalising promise as it bridges the gap between the regulated entities, such as banks or NBFCs etc, and the consumers "meandering for justice". The court said the scheme seeks to achieve a cost-effective and speedy resolution of the complaints of consumers against regulated entities and the ombudsman is duty bound to pass a reasoned order to foster greater transparency and confidence in the process. The court was hearing a plea by the petitioner who was aggrieved by the manner in which the ombudsman rejected its complaint against a private bank without passing a detailed order. The court noted that under the Reserve Bank- Integrated Ombudsman Scheme, 2021, the ombudsman is required to consider the complaint of customers of regulated entities relating to deficiencies in services while adhering to the principle of natur

Pension Fund Regulatory and Development Authority (PFRDA) has increased the upper age limit by 5 years for Ombudsman to 70 years. As per the Pension Fund Regulatory and Development Authority (Redressal of Subscriber Grievance) Regulations 2015, the upper age limit was 65 years. According to the gazette notification dated March 27, the PFRDA has amended that regulation by replacing the upper age limit for Ombudsman from 65 to 70 years. "These regulations may be called the Pension Fund Regulatory and Development Authority (Redressal of Subscriber Grievance) (Amendment) Regulations, 2023," the notification said. These shall come into force on the date of their publication in the official gazette, it said. Ombudsman appointed by PFRDA receives, considers and facilitates resolution of complaints or grievances, which fall within the ambit of the regulations. A person appointed as an Ombudsman holds office for a period of three years and would be eligible for reappointment for another t

Complaints relating to digital modes of payment and transactions were the highest, constituting 42.12% during the year

The Reserve Bank of India (RBI) on Thursday has directed all the credit information companies to appoint an internal ombudsman by April 1, 2023

Complaints relating to health insurance made up a third of the total number cases disposed of in 2020-21, a period marked by the first wave of Covid-19

Payment system participants will be provided access to this registry for near-real time fraud monitoring. The aggregated fraud data will be published to educate customers on emerging risks

Scheme to offer cost-free redress of complaints about 'deficiency' in services rendered by entities regulated by RBI, if not resolved to customers' satisfaction or not replied within 30 days

Prime Minister Narendra Modi will launch two innovative, customer-centric initiatives of the Reserve Bank of India, the retail direct scheme and the integrated ombudsman scheme, via video-conferencing

Of the total complaints made in this fiscal, 18 were received in July and 12 in April and June.