Economy News

RBI Integrated Ombudsman Scheme 2026

July 6 , 2026 15 hrs 0 min 59 0

The Reserve Bank of India (RBI) has implemented the revised Integrated Ombudsman Scheme (RB-IOS) 2026 from July 1, 2026, replacing the 2021 framework to strengthen and streamline customer grievance redressal in regulated financial institutions.
The scheme provides a faster, cost-free and non-adversarial complaint redressal mechanism against banks, NBFCs (Non-Banking Financial Companies), payment system operators and credit information companies.
It follows a “One Nation, One Ombudsman” system, allowing complaints without identifying a specific regional office.
The RBI has increased compensation limits up to ₹30 lakh for financial loss and ₹3 lakh for harassment, delay and mental anguish.
Customers must first approach the concerned financial institution and can escalate to the RBI if unresolved within 30 days.