Clients of regulated entities will have a free alternative dispute resolution for grievances against credit information companies.
October 8, 2022Credit information companies will be required to have their own internal ombudsman framework, the RBI said.
August 11, 2022Ombudsman agrees to review complaint from Cambodian NGOs alleging IFC funding contributed to human rights abuses in microfinance lending.
May 8, 2022Offline digital payments are expected to benefit areas with weak internet or telecom connectivity, particularly semi-urban and rural areas.
January 6, 2022Treasury recommends government remove the legislative requirement for authorised credit representatives to be members of AFCA.
December 6, 2021The platform enables FIs to track complaints resolution and compare their performance against an anonymised set of similar financial firms.
November 24, 2021NBFCs with 10 or more branches and with asset size of INR 50 billion have six months to appoint an internal ombudsman in charge of grievance redressal.
November 19, 2021The new scheme combines the existing ombudsman schemes for banks, NBFCs and payment system operators and centralises complaints filing and processing.
November 16, 2021The amendments raise the limits on compensation that can be awarded in consumer disputes without being subject to appeal.
September 22, 2021The FSC will raise the compensation ceilings under which financial companies have to automatically accept settlement decisions.
August 10, 2021