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RBI directs NBFCs to appoint Internal Ombudsman within 6 months

  • Deposit-taking NBFCs with more than 10 branches and non-deposit-taking NBFCs with an asset size of a minimum of 5,000 Crore rupees have been asked to appoint an internal ombudsman within 6 months. 
  • It will be an apex of their internal grievance redress mechanism. 
  • All complaints that are partly or wholly rejected by the NBFC will be reviewed by the Internal Ombudsman before the final decision of the NBFC is conveyed to the complainant.