Ombudsman Scheme for Non-Banking Financial Companies, 2018 Salient Features

(Pursuant to RBI notification dated 26thApril, 2019)

Scheme covers customers of

All deposit taking NBFCs

NBFCs with assets size >= Rs. 100 crore + customer interface

(Excluding: Infrastructure Finance Companies, Core Investment Companies, Infrastructure Debt Fund and NBFCs under liquidatio)

Grounds for filing a complaint by a customer

  • Not conveyed the amount of loan sanctioned, terms & conditions, annualised rate of interest, etc.
  • Notice not provided for changes in agreement, levy of charges
  • Failure to ensure transparency in contract/loan agreement
  • RBI directives not followed by NBFC
  • Guidelines on Fair Practices Code not followed

How can a customer file complaint?

Written representation to NBFC concerned

At the end of one month

If reply is not received from NBFC or customer remains dissatisfied with the reply of NBFC

If customer has not approached any forum

File a complaint with NBFC Ombudsman (not later than one year after the reply from NBFC)

How does Ombudsman take decision?

  • Proceedings before Ombudsman are summary innature
  • Promotes settlement through conciliation If not reached, can issueAward/Order

Can a customer appeal, if not satisfied with decision of Ombudsman?

Yes, If Ombudsman’s decision is appealable Appellate Authority: Deputy Governor, RBI

For customers in the State of:Details of Ombudsman

Tamil Nadu, Andaman and Nicobar Islands, Karnataka, Andhra Pradesh, Telangana, Kerala, Union Territory of Lakshadweep and Union Territory of Puducherry

C/o Reserve Bank of India Fort Glacis, Chennai 600 001
STD Code: 044
Telephone No : 25395964
Fax No : 25395488
Email id – cms.nbfcochennai@rbi.org.in
Click here to lodge complaint

Maharashtra, Goa, Gujarat, Madhya Pradesh, Chhattisgarh, Union Territories of Dadra and Nagar Haveli, Daman and Diu

C/o Reserve Bank of India RBI Byculla Office Building Opp. Mumbai Central Railway Station Byculla, Mumbai – 400 008
STD Code: 022
Telephone No : 2300 1280
Fax No : 23022024
Email id – cms.nbfcomumbai@rbi.org.in
Click here to lodge complaint

Delhi, Uttar Pradesh, Uttarakhand, Haryana, Punjab, Union Territory of Chandigarh Himachal Pradesh, and Rajasthan and State of Jammu and Kashmir

C/o Reserve Bank of India Sansad Marg, New Delhi – 110001
STD Code : 011
Telephone No : 23724856
Fax No : 23725218-19
Email id – cms.nbfconewdelhi@rbi.org.in
Click here to lodge complaint

West Bengal, Sikkim, Odisha, Assam, Arunachal Pradesh, Manipur, Meghalaya, Mizoram, Nagaland, Tripura, Bihar and Jharkhand

C/o Reserve Bank of India 15, Netaji Subhash Road Kolkata – 700 001
STD Code : 033
Telephone No : 22304982
Fax No : 22305899
Email id – cms.nbfcokolkata@rbi.org.in
Click here to lodge complaint

Note: This is an AlternateDispute Resolution mechanism. Customer is at liberty to approach any other court/forum/authority for the redressal at any stage.