- within Finance and Banking, Law Department Performance and Immigration topic(s)
In this episode of the Legal Podcast powered by IndiaLaw LLP, the discussion focuses on the RBI Integrated Ombudsman Scheme, 2026, a consolidated grievance redressal framework notified by the Reserve Bank of India. The Scheme, which comes into force on 1 July 2026, replaces the earlier RBI Integrated Ombudsman Scheme, 2021 and introduces a more centralised and technology-driven approach to consumer dispute resolution in India's financial sector. The episode examines how the new framework expands coverage to banks, eligible NBFCs, prepaid payment instrument issuers, and credit information companies. It also highlights key structural features such as the Centralised Receipt and Processing Centre, the role of Ombudsmen appointed from within the RBI, and the Scheme's emphasis on settlement, conciliation, and regulatory oversight.
With compensation limits of up to ₹30 lakh and strict maintainability conditions, the framework aims to ensure faster, cost-effective grievance redressal while strengthening regulatory compliance across financial institutions
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