RBI has released Integrated Ombudsman Scheme 2026. Click here to download RBI Integrated Ombudsman Scheme 2026.
Appointment of RBI Integrated Ombudsman
The Reserve Bank may appoint one or more of its officers as RBI Ombudsman and RBI Deputy Ombudsman, to carry out the functions entrusted to them under the Scheme. The appointment of RBI Ombudsman or the RBI Deputy Ombudsman, as the case may be, shall be made generally for a period of three years at a time.
Compensation Power of RBI Ombudsman
There is no limit on the amount in a dispute that can be brought before the RBI Ombudsman for which the RBI Ombudsman/ RBI Deputy Ombudsman can facilitate a settlement or pass an Award. However, for any consequential loss suffered by the Complainant, the RBI Ombudsman shall have the power to provide a compensation up to ₹30 lakh. In addition, the RBI Ombudsman shall also have the power to provide a compensation up to ₹3 lakh for the loss of the Complainant’s time, expenses incurred, harassment/mental anguish suffered, etc., if any, by the Complainant.
