On 12th January, 2022, the Reserve Bank of India (RBI) released the Annual Report of the Ombudsman Schemes for the year 2020-21, which has been prepared for the nine-month period, i.e., July 1, 2020 to March 31, 2021.
The Report is in alignment with the change in the Financial Year of RBI from ‘July – June’ to ‘April – March' with effect from July 1, 2020.
It covers the activities under the Banking Ombudsman Scheme, 2006 (BOS), the Ombudsman Scheme for Non-Banking Financial Companies, 2018 (OSNBFC) and the Ombudsman Scheme for Digital Transactions, 2019 (OSDT), major developments and the way forward in the area of consumer protection.
