Banking Ombudsman Scheme: Who Qualifies and What You Get
Learn how to resolve disputes with your bank through this independent resolution process if your complaints remain unaddressed.
The Banking Ombudsman Scheme provides a way for you to get an independent resolution if you have a dispute with your bank that has not been resolved.
Who it's for
This is for customers who have complaints regarding banking services and have not received a satisfactory response from their bank.
What you get
You receive an independent review of your situation to help resolve failures in banking services. It acts as a neutral third party to address your grievances.
What it costs you
There is no cost to use this service; it is entirely free. However, you must have already filed a formal complaint with your bank before you can use this scheme.
The catch to know
You cannot approach the Ombudsman immediately. You must wait at least 30 days after you have submitted your initial complaint to the bank before you are eligible to seek help through this scheme.
How to apply
- File a formal complaint with your bank regarding the service failure.
- Wait 30 days to see if the bank provides a resolution.
- If the issue remains unresolved or the bank rejects your complaint, prepare your supporting documents.
- Submit your grievance through the official portal: https://cms.rbi.org.in