1 / 6

Ombudsman Scheme for NBFC : Launched by RBI

Ombudsman scheme was introduced by RBI recently to provide the customers of  NBFC Company with easy, cost-free and prompt grievance redress mechanism.

monikaqc
Download Presentation

Ombudsman Scheme for NBFC : Launched by RBI

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript


  1. Ombudsman Scheme for NBFC : Launched by RBI

  2. Ombudsman Scheme for NBFC : Launched by RBI Ombudsman scheme was introduced by RBI recently to provide the customers of NBFC Company with easy, cost-free and prompt grievance redress mechanism. The ombudsman scheme for banks was a hit among the banking customers hence RBI aimed at releasing the same for Non-banking financial companies. Ombudsman scheme for NBFC was launched on 23rd February 2018. The current ombudsman scheme would cover only the deposit-taking NBFC, effective immediately. The NBFC ombudsman is an official appointed by the RBI to work on the customer complains. Related: Different types of NBFC in India

  3. Procedure for filing complaint with Ombudsman • Any customer of NBFC can file a complaint with ombudsman on any grounds which are mentioned in the clause 8 of the said scheme. • The complaint made by the representative should be made in the branch which has jurisdiction of the Non-Banking company against whom the complaint has been submitted. • The complainant needs to sign the said form of grievance which is submitted, or if not signed by him it should be duly signed by the representative. • The complaint filed should contain the address of the complainant the registered address of the NBFC. It should also contain relief which is sought by the complainant. Must Read: Future of NBFC

  4. Non-Applicability of the Ombudsman Scheme • The scheme only covers deposit-taking NBFC’s hence this scheme is not applicable on the non-deposit taking NBFC with asset size of 100 crore rupees and above. • The following NBFC are excluded from the ambit of the scheme: • Non-Banking Financial companies which are under liquidation • The Non-Banking Financial Company- Infrastructure Finance Company • Infrastructure Debt Fund- NBFC • Core Investment Company Read More: Difference between NBFC and Commercial Banks

  5. Groups for Filing Complaint (RBI) • Financial Deficiency • Functional Deficiency • Contractual Deficiency Rejection of the Complaint • If the complainant has not filed the complaint with NBFC before filing a complaint with the ombudsman. • The cause of action for which the complaint has been filed with the ombudsman is already going on in court or tribunal. • The complaint filed is frivolous. • If the complaint made is not on the grounds mentioned in the clause 8 of the ombudsman scheme.

  6. CONTACT INFORMATION info@quickcompany.in 011-395-95858 www.quickcompany.in

More Related