From 1 July 2026, the Reserve Bank of India (RBI) implemented a revamped Integrated Ombudsman Scheme. This new framework replaced which scheme?

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The correct answer is Option B: Integrated Ombudsman Scheme, 2021. The Reserve Bank of India (RBI) implemented the revamped Integrated Ombudsman Scheme with effect from 1 July 2026, replacing the Integrated Ombudsman Scheme, 2021. The scheme follows the "One Nation, One Ombudsman" principle to provide a single, uniform grievance redressal mechanism for customers of RBI-regulated entities. The revamped framework covers Scheduled Commercial Banks, eligible NBFCs, Prepaid Payment Instrument (PPI) issuers, and Credit Information Companies (CICs). A complaint can be filed with the RBI Ombudsman if the regulated entity fails to respond within 30 days or the customer is dissatisfied with the response. Customers must approach the RBI Ombudsman within 90 days of receiving the final reply or after the prescribed response period expires. The scheme provides free, online and non-adversarial grievance redressal with an expanded role for Deputy Ombudsmen. The Ombudsman may award compensation of up to ₹30 lakh for consequential financial loss and up to ₹3 lakh for harassment, mental anguish, expenses and loss of time. Complaints already filed under the Integrated Ombudsman Scheme, 2021 will continue to be processed under the previous provisions.

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Banking Ombudsman Scheme, 2021

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Digital Payments Ombudsman Scheme, 2021

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Unified Ombudsman Scheme, 2021

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Financial Ombudsman Scheme, 2021

From 1 July 2026, the Reserve Bank of India (RBI) implemented a revamped Integrated Ombudsman Scheme. This new framework replaced which scheme?

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From 1 July 2026, the Reserve Bank of India (RBI) implemented a revamped Integrated Ombudsman Scheme. This new framework replaced which scheme?

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