RBI-IOS, 2021

Recently, the Reserve Bank of India (RBI) has included state co-operative Banks and central co-operative banks in the Reserve Bank – Integrated Ombudsman Scheme (RB-IOS), 2021.

  • RB-IOS is a free, single-window grievance redressal system by the RBI to resolve customer complaints against regulated entities under the Alternate Grievance Redressal (AGR) Framework.
  • It merged three ombudsman schemes — for Banks, NBFCs, and Digital Transactions into a single unified framework under the ‘One Nation – One Ombudsman’ principle.
  • It aims to simplify complaint filing, standardise procedures, and ensure faster, transparent, and fair customer grievance redressal against RBI-regulated financial entities.
  • It covers all ....
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