RBI may set-up a digital payments ombudsman by March 2019

Posted on:09 Nov 2018 11:56:08
RBI may set-up a digital payments ombudsman by March 2019
09 November 2018 Current Affairs: The Reserve Bank of India (RBI) may set-up an ombudsman for digital payments by March to reduce the burden on banking ombudsman because of a rising number of complaints.

Who is the Banking Ombudsman?

The Banking Ombudsman actually is a senior official appointed by the RBI to redress customer complaints against pitfalls in the stipulated banking services covered by the Banking Ombudsman Scheme 2006.

The Banking Ombudsman may award compensation not exceeding Rs 1 lakh to the complainant for mental agony and harassment.
The Reserve Bank of India (RBI) may set-up an ombudsman for digital payments by March to reduce the burden on banking ombudsman because of a rising number of complaints.

Who is the Banking Ombudsman?

The Banking Ombudsman actually is a senior official appointed by the RBI to redress customer complaints against pitfalls in the stipulated banking services covered by the Banking Ombudsman Scheme 2006.

The Banking Ombudsman may award compensation not exceeding Rs 1 lakh to the complainant for mental agony and harassment.

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