RBI's New Integrated Ombudsman Scheme 2026: Your Banking Complaint Solution

• The RBI has introduced the Integrated Ombudsman Scheme, 2026, effective July 1, 2026, to simplify and expedite the resolution of customer complaints against financial institutions.
• This scheme replaces the 2021 version, aiming to provide a quick, fair, and out-of-court mechanism for grievances related to poor service, unfair charges, or account mishandling.
• It covers commercial banks, regional rural banks, co-operative banks, NBFCs (deposits/assets over Rs 100 crore), digital wallets, and credit information companies, excluding those under RBI restrictions.
• Customers must first complain to the financial entity; if unresolved within 30 days, they can file with the RBI Ombudsman online, via email, or post within 90 days.
• The Ombudsman can award compensation up to Rs 30 lakh for consequential loss and up to Rs 3 lakh for harassment/expenses, with an appeal option to the Appellate Authority.

Why It Matters: RBI's 2026 Integrated Ombudsman Scheme offers a faster, fairer way to resolve banking complaints, empowering customers.