Why in the News
The RBI’s Annual Report of the Ombudsman Scheme highlighted a growth of 13.55% in complaints under RB-IOS during FY25, rising to 1.33 million from 1.18 million in FY24.
| What is RB-IOS? • A unified dispute redress mechanism of the Reserve Bank of India covering banks, NBFCs, and authorized payment system participants. • Aims to simplify the process by introducing One Nation One Ombudsman framework. |
Sources of Complaints
• Office of RBI Ombudsman (ORBIO) and Centralised Receipt and Processing Centre (CRPC)
• ORBIO handled nearly 0.30 million complaints in FY25 (0.82% rise YoY)
Major Categories of Complaints
- Loans and advances: 29.25% of total complaints (highest)
- Credit cards: 20.04% increase YoY
- Mobile/electronic banking: 16.86% share (declined by 12.74% YoY)
Entity-wise Break-up
• Banks: 0.24 million complaints (81.53% of ORBIO complaints)
• NBFCs: 43,864 complaints (14.80%)
• Among banks:
- Private sector banks share rose: 34.39% to 37.53%
- Public sector banks share fell: 38.32% to 34.80%
Disposal of Complaints
• ORBIOs disposed 0.29 million complaints with a 93.07% disposal rate
• Maintainable complaints: 62.16% of disposed
- 51.91% resolved through mutual settlement, conciliation, mediation
- 43.36% rejected
| The Reserve Bank of India regulates the commercial banks in matters of (2013)
(1). liquidity of assets (2). branch expansion (3). merger of banks (4). winding-up of banks Select the correct answer using the codes given below. (a) 1 and 4 only (b) 2, 3 and 4 only (c) 1, 2 and 3 only (d) 1, 2, 3 and 4 |
Get an IAS/IPS ranker as your 1: 1 personal mentor for UPSC 2024
