February 24, 2018 5:56 PM

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RBI launches Ombudsman scheme for NBFCs

<span style="color: #000000; font-family: verdana, helvetica, sans-serif, arial; font-size: 10.6667px; text-align: justify;">The Reserve Bank of India has launched Ombudsman Scheme for non-banking financial companies (NBFCs) for redressal of complaints against them. <br />''<br />''In a statement, RBI said, the scheme will provide a cost-free and expeditious complaint redressal mechanism relating to deficiency in the services by NBFCs covered under the scheme. <br />''<br />''The bank said, the scheme will cover all deposit-taking NBFCs, and based on the experience gained, it would extend it to cover NBFCs having asset size of 100 crore rupees and above with customer interface.<br style="color: #000000; font-family: verdana, helvetica, sans-serif, arial; font-size: 10.6667px; text-align: justify;" />''<br style="color: #000000; font-family: verdana, helvetica, sans-serif, arial; font-size: 10.6667px; text-align: justify;" />''The offices of the NBFC ombudsmen will function at four metro centres – New Delhi, Mumbai, Kolkata and Chennai.</span><br style="color: #000000; font-family: verdana, helvetica, sans-serif, arial; font-size: 10.6667px; text-align: justify;" />

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