RBI Notifications

[pib] Reserve Bank – Integrated Ombudsman Scheme

Note4Students

From UPSC perspective, the following things are important :

Prelims level : Integrated Ombudsman Scheme, RBI Retail Direct Scheme

Mains level : Not Much

The PM will launch two innovative customer-centric initiatives of the Reserve Bank of India.

What are the schemes?

[A] Integrated Ombudsman Scheme

  • It aims to further improve the grievance redress mechanism for resolving customer complaints against entities regulated by RBI.
  • The central theme of the scheme is based on ‘One Nation-One Ombudsman’ with one portal, one email and one address for the customers to lodge their complaints.
  • There will be a single point of reference for customers to file their complaints, submit the documents, track status and provide feedback.
  • A multi-lingual toll-free number will provide all relevant information on grievance redress and assistance for filing complaints.

[B] RBI Retail Direct Scheme

  • It is aimed at enhancing access to government securities market for retail investors.
  • It offers them a new avenue for directly investing in securities issued by the Government of India and the State Governments.
  • Investors will be able to easily open and maintain their government securities account online with the RBI, free of cost.

 

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