The Reserve Bank of India has announced to introduce the Internal Ombudsman mechanism for the following two types of Non-Banking Financial Companies (NBFCs). These two types of NBFCs are Deposit-taking NBFCs (NBFCs-D) with 10 or more branches and Non-Deposit taking NBFCs (NBFCs-ND) with asset size of Rs.5,000 crore and above having public customer interface.
Buy Prime Test Series for all Banking, SSC, Insurance & other exams
Consequently, these two categories of NBFCs will have to appoint Internal Ombudsman (IO). The internal Ombudsman will be responsible for handling the public grievance at the entity level before the grievance is escalated to Ombudsman at RBI. RBI has given a timeline of six months to the NBFCs for the appointment of the Internal Ombudsman.
Important takeaways for all competitive exams:
India maintained its momentum at the Asian Games 2026 in Aichi-Nagoya, Japan, on Day 2…
Goalkeeper Savita Punia of India has broken Vandana Katariya's record to become the most capped…
Gwalior is set to emerge as a significant telecom manufacturing center with the upcoming development…
Minister of Home Affairs and Minister of Cooperation Amit Shah is all set to inaugurate…
Chandni Chowk’s historic Town Hall complex is gearing up for a new beginning as the…
Smriti Mandhana scripted another history in the international cricket again as she became the leading…