Separate ombudsmen exist for NBFCs and digital transactions

The ombudsman mechanism for complaint redressal is not just available for banks. The RBI has separate ombudsman systems for non-banking financial companies and digital transactions. The banking ombudsman has been in place since 2006, while the one for NBFCs came in 2018 and the one for digital transactions came in as early as 2019.

NBFC Ombudsman

The NBFC ombudsman was first announced for deposit-taking NBFCs. It has been recently extended to other NBFCs as well. However, this scheme is applicable to NBFCs having an asset size of ₹100 crore and above. At present, it has four offices— at Chennai, Mumbai, New Delhi and Kolkata. The complaints can be filed offline or through an e-mail.