The RBI's annual report for the Integrated Ombudsman Scheme reveals that 934,355 complaints were filed against lenders in ...

Integrated Ombudsman Scheme (RB-IOS) witnessed a substantial rise in complaints during FY24, underlining the increasing reliance on the central bank’s grievance redressal mechanisms.A total of ...

NEW DELHI : Mumbai-based Yateen Kahate applied for Axis Bank's Magnus credit card in July 2023. Two months later, the bank ...

the central bank introduced the Internal Ombudsman mechanism in some scheduled commercial banks to boost the efficiency of their internal grievance redressal systems The Reserve Bank of India (RBI ...

Complaints by customers of banks and other financial entities under the Reserve Bank – Integrated Ombudsman Scheme (RB-IOS), 2021 soared by 32.81 per cent in 2023-24 from 2022-23 levels, according to ...

The RBI reported a total of 1,039 complaints against the credit information companies. RBI Ombudsman received more complaints against private banks per branch in FY23: Report RBL Bank had highest ...

The annual report indicates a substantial increase of 32.81 percent in banking customer complaints compared to the previous fiscal year. Of the maintainable complaints, 57.07 percent were resolved ...

To address this, the Reserve Bank of India will appoint an ‘ombudsman’ to specifically address all the complaints related to digital payments for prepaid instruments. Its existing banking ...

Government acknowledges the challenges faced by first-time borrowers and informal sector workers in accessing credit due to limited or non-existent CIBIL scores. Credit Information Reports (CIRs) and ...