RBI’s Revised Ombudsman Scheme to Take Effect from July 1, 2026

The Reserve Bank of India has finalized its Integrated Ombudsman Scheme, 2026, following stakeholder feedback on the draft issued in October 2025. The revised framework consolidates and streamlines grievance redressal processes, ensuring faster resolution of customer complaints against banks, NBFCs, and other regulated entities.

The scheme is designed to bring greater accountability and efficiency to the financial sector, aligning with RBI’s broader push for consumer protection and regulatory transparency.

Key Highlights

• Effective Date: July 1, 2026.
• Scope: Covers banks, NBFCs, and other regulated financial service providers.
• Objective: Strengthen the Ombudsman framework and improve efficiency in complaint resolution.
• Process: Incorporates feedback from stakeholders on the draft scheme issued in October 2025.
• Impact: Expected to enhance consumer confidence and streamline grievance redressal across the financial ecosystem.

This move underscores RBI’s commitment to safeguarding consumer interests while modernizing regulatory frameworks in line with evolving financial practices.

Sources: Reserve Bank of India – Press Release (Jan 16, 2026); ET BFSI report on revised credit reporting norms.