DAILY GK: 14 , 15 JAN 2022
1.
RBI RELEASES ANNUAL REPORT OF OMBUDSMAN SCHEMES, 2020-21
·
The Reserve
Bank of India (RBI) released the Annual Report of the Ombudsman Schemes for
2020-21, which has been prepared for the 9-month period, i.e., July 1,
2020, to March 31, 2021, in alignment with the change in the Financial Year of
RBI from ‘July – June’ to ‘April – March’ with effect from July 1, 2020.
·
The
Annual Report covers the activities under the Banking Ombudsman Scheme, 2006
(BOS), the Ombudsman Scheme for Non-Banking Financial Companies, 2018 (OSNBFC)
and the Ombudsman Scheme for Digital Transactions, 2019 (OSDT)
·
The
volume of complaints received under all the 3 Ombudsman Schemes increased by
22.27 percent on an annualized basis and stood at 3,03,107.
·
BOS: The
complaints received at BOS from July 1, 2020, to March 31, 2021, stood at
2,73,204 as compared to 3,08,630 complaints from July 2019 to June 2020.
·
Issues related to ATM (Automated Teller Machine)/ debit cards, mobile/ electronic
banking, credit cards, failure to meet commitments, and non-observance of fair
practices code were the top-five grounds of complaints received at the Office
of Banking Ombudsman (OBO) during July 2020-March 2021.
·
RB-IOS: In
November 2021 Prime Minister Narendra Modi launched Reserve Bank – Integrated
Ombudsman Scheme (RB-IOS) to integrate and replace the current 3 ombudsman
schemes (BOS, OS-NBFC, and OSDT).