RBI Integrated Ombudsman scheme. RBI Retail Direct scheme.
A.Banking Ombudsman scheme enabled the people to file complain to resolve the banking issues.
B. There after the ombudsman scheme came for NBFC also in the year 2018
C.Then ombudsman scheme came for digital payments transactions in the year 2019.
on 12.11.2021 on PM Sh. Narendra Modi flagged off two schemes namely:-
1.RBI INTEGRATED OMBUDSMAN SCHEME
and
2.RBI RETAIL DIRECT SCHEME
The first scheme is issued by clubbing all the three ombudsman schemes as at A, B and C above.
The Ombudsman scheme will try to counsel both the parties, although it is not having any legal status. The complain can be related to services given by Bank, NBFC or digital transactions provider.
If the customer is not satisfied with reply of the service provider, reply not given or complaint rejected, then customer can file the complaint within 30 days from the date of receipt of complaint by the service provider.
The RBI Retial Direct Scheme is related to channnelising the ordinary savings into capital markets, especially Govt. securities, while virtually helping the retail investors. Till now, the middle class, small traders and senior citizens could only invest in Govt. securities through the indirect route.
Investment by a big section of the population will make it easy for the Govt. to finance the development of the nation and take a major step towards attaining the goal of Atma Nirbhar Bharat. A phone and internet connection will suffice to open an eight digit account and link it with the savings account to enable online purchase and sale of Govt. securities. These investments will have safety and good returns. The Govt. will get the necessary resources to develop a new India.