For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

Non-Deposit Taking NBFCs Now Covered Under Ombudsman Scheme

|

In a bid to provide faster grievance redressal against shortfall in services relating to loans and other issues, RBI today included non-deposit taking NBFCs with asset size of Rs. 100 crore or more within the ombudsman scheme. Earlier the ombudsman scheme was introduced for deposit-taking NBFCs. Now within the purview of the scheme, are included some more categories of NBFCs.

Non-Deposit Taking NBFCs Now Covered Under Ombudsman Scheme
 

The extension of the ombudsman scheme will enable customers to get cost-free and expeditious redressal against complaints concerning deficiency in services covered as part of the scheme.

Furthermore, infrastructure finance company (NBFC-IFC), infrastructure debt fund-non-banking financial company (IDF-NBFC), core investment company (CIC) and an NBFC under liquidation do not form the part of the scheme.

Also the scheme offer an appellate mechanism in which the NBFC or its customer can make an appeal before the appellate authority against the decision taken by the Ombudsman.

GoodReturns.in

Story first published: Friday, April 26, 2019, 17:05 [IST]
Company Search
Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

Find IFSC

We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more