Question : On which date has RBI introduced internal ombudsman mechanism for select NBFCs ?
a. Nov 15, 2021
b. Nov 12, 2021
c. Nov 10, 2021
d. None of the above
Ans. a.
Related facts —
- RBI on November 15 introduced internal ombudsman mechanism for select-NBFCs.
- Directions of RBI —
- Reserve bank has directed deposit-taking NBFCs(NBFCs-D) with 10 or more branches and Non-Deposit taking NBFCs(NBFCs-ND) with asset size of Rs 5,000 crore and above having public customer interface to appoint Internal Ombudsman(IO) at the apex of their internal grievance redress mechanism within a period of six months from the date of issue of the direction.
- NBFCs that excluded from the requirement to appoint IOs —
Stand-alone Primary Dealers (PDs), NBFC – Infrastructure Finance Companies (NBFC-IFCs), Core Investment Companies (CICs), Infrastructure Debt Fund – Non-Banking Financial Companies (IDF-NBFCs), Non-Banking Financial Company – Account Aggregators (NBFC-AAs), NBFCs under Corporate Insolvency Resolution Process, NBFCs in liquidation and NBFCs having only captive customers.
Link:
https://www.rbi.org.in/Scripts/BS_PressReleaseDisplay.aspx?prid=52563