Question: consider the following statement about RBI’s “One Nation One Ombudsman” approach:-
a) Currently there is different consumer grievance redressal system in the country for the banking, non-bank finance companies and for digital transactions.
b) Rbi has decided to integrate all the three ombudsman scheme in one.
Which of the above two are correct?
i) a
ii)b
iii) a,b
iv) none of the above
Ans: iii
Context
- On 5th February, The Reserve Bank of India has proposed the ‘One Nation One Ombudsman’ approach for grievance redressal.
Facts
- Currently there is different consumer grievance redressal system in the country for the banking, non-bank finance companies and for digital transactions.
- This has made grievances redressal process cumbersome.
- RBI has proposed to integrate all three ombudsman into one in a move aimed at enhancing consumer protection.
- The e-Integrated Ombudsman Scheme will be rolled out in June 2021.
- It will make process of redress of grievances easier by enabling the customers of the banks, NBFCs and non-bank issuers of PPIs to register their complaints under the integrated scheme, with one centralised reference point.
By kameshwar shukla