RBI to Launch Revised Integrated Ombudsman Scheme with Centralised Complaint Processing from July 2026

The Reserve Bank of India will implement a revised Integrated Ombudsman Scheme from July 1, 2026, establishing a Centralised Receipt and Processing Centre to handle complaints against regulated entities. The scheme aims to provide a cost-effective, expeditious grievance redressal mechanism without limits on dispute amounts. It retains higher compensation caps, allowing awards up to Rs 30 lakh for consequential losses and Rs 3 lakh for non-financial damages, balancing consumer relief with regulated entities' concerns.