Reserve Bank issues directions for appointment of Internal Ombudsman for all Credit Information Companies

The Reserve Bank has issued directions for appointment of Internal Ombudsman for all Credit Information Companies - CICs. As announced in the monetary policy statement dated 5th August 2022,  all complaints that are partly or wholly rejected by CICs will be reviewed by the Internal Ombudsman before the final decision is conveyed to the complainant. The Ombudsman will not entertain any complaints directly from the members of the public. RBI has directed CICs to complete the process of appointment...