| Aspect | Details |
|---|---|
| Event | Reserve Bank of India (RBI) announces major reform in grievance redressal framework. |
| Key Initiative | Establishment of Centralized Receipt and Processing Centre (CRPC) under Integrated Ombudsman Scheme. |
| Implementation Date | Effective from July 1, 2026. |
| Role of CRPC | Acts as a single national hub for initial scrutiny of complaints via email and physical submissions. |
| Objective of CRPC | Assess admissibility of complaints under the Integrated Ombudsman Scheme before forwarding for resolution. |
| Expected Benefits | Quicker scrutiny, better transparency, and easier access for consumers nationwide. |
| Complaint Handling Process | - Online complaints: Registered directly on RBI Complaint Management System (CMS) portal. - Email/post complaints: Processed centrally by CRPC. |
| Admissible Complaints | Examined by RBI Ombudsman or Deputy Ombudsman based on banking laws, RBI regulations, and guidelines. |
| Key Objective of Scheme | Provides a cost-effective, quick, and non-adversarial grievance redress mechanism. |
| Compensation Provisions | - No monetary limit on value of disputes. - Up to ₹30 lakh for consequential losses. - Up to ₹3 lakh for loss of time, expenses, harassment, or mental anguish. |
| RBI Ombudsman System | Offers an alternative dispute resolution platform for customers of banks, NBFCs, and other regulated entities. |
| Question | Q. The Central Complaints Processing Centre (CRPC) will function under which RBI scheme? A. Integrated Ombudsman Scheme |
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