Annex I
Ombudsman Scheme for Non-Banking Financial Companies, 2018: Salient Features
Grounds for filing a complaint by a customer:
- Interest/Deposit not paid OR paid with delay
- Cheque not presented OR done with delay
- Not conveyed the amount of loan sanctioned, terms & conditions, annualized rate of interest, etc.
- Notice not provided for changes in agreement, levy of charges
- Failure to ensure transparency in contract/loan agreement
- Failure/ Delay in releasing securities/ documents
- Failure to provide legally enforceable built-in repossession in contract/ loan agreement
- RBI directives not followed by NBFC
- Guidelines on Fair Practices Code not followed
How does Ombudsman take decision?
- Proceedings before Ombudsman are summary in nature
- Promotes settlement through conciliation → If not reached, can issue Award/Order
Can a customer appeal, if not satisfied with decision of Ombudsman?
Yes, If Ombudsman’s decision is appealable → Appellate Authority: Deputy Governor, RBI
Note
- This is an Alternate Dispute Resolution mechanism
- Customer is at liberty to approach any other court/forum/authority for the redressal at any stage
- Refer to www.rbi.org.in for further details of the Scheme
Annex II
Address and Area of Operation of NBFC Ombudsman
Sr.No | Centre | Centre Address of the Office of NBFC Ombudsman | Area of Operation |
---|---|---|---|
1 | Chennai | C/o Reserve Bank of India Fort Glacis, Chennai 600 001 STD Code: 044 Tel No. 25395964 Fax No. 25395488 Email: nbfcochennai@rbi.org.in |
Tamil Nadu, Andaman and Nicobar Islands, Karnataka, Andhra Pradesh, Telangana, Kerala, Union Territory of Lakshadweep and Union Territory of Puducherry |
2 | Mumbai | C/o Reserve Bank of India, RBI Byculla Office Building, Opp. Mumbai Central Railway Station, Byculla, Mumbai-400 008 STD Code: 022 Tel No. 2300 1280 Fax No. 23022024 Email: nbfcomumbai@rbi.org.in |
Maharashtra, Goa, Gujarat, Madhya Pradesh, Chhattisgarh, Union Territories of Dadra and Nagar Haveli, Daman and Diu |
3 | New Delhi | C/o Reserve Bank of India Sansad Marg, New Delhi - 110001 STD Code: 011 Tel. No. 23724856 Fax No. 23725218-19 Email: nbfconewdelhi@rbi.org.in |
Delhi, Uttar Pradesh, Uttarakhand, Haryana, Punjab, Union Territory of Chandigarh Himachal Pradesh, and Rajasthan and State of Jammu and Kashmir |
4 | Kolkata | C/o Reserve Bank of India 15, Netaji Subhash Road, Kolkata-700001 STD Code: 033 Tel. No. 22304982 Fax No. 22305899 Email: nbfcokolkata@rbi.org.in |
West Bengal, Sikkim, Odisha, Assam, Arunachal Pradesh, Manipur, Meghalaya, Mizoram, Nagaland, Tripura, Bihar and Jharkhand |