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RBI Ombudsman Successfully Resolved 95% of Complaints in FY24.

Banking & Finance | Dated: 03 Feb 2025

In January 2025, the Reserve Bank of India (RBI) released its latest Annual Report of the Ombudsman Scheme, 2023-24. As per the report, RBI resolved 95% (i.e., 2.84 lakh) of complaints received under the Reserve Bank-Integrated Ombudsman Scheme (RB-IOS) between April 1, 2023, and March 31, 2024, achieving a disposable rate of 95.10%.

🎯 Key Highlights:

- Under the RB-IOS, 2021 Act, complaints are handled by 24 Offices of the RBI Ombudsman (ORBIOS) and the Centralised Receipt and Processing Centre (CRPC) during F.Y. 2023-24.
- The report revealed that a total of 9,34,355 complaints were received by the ORBIOS and CRPC, compared to 7,03,544 complaints in F.Y. 2022-23, marking an increase of 32.81%.

💡 Other Important Facts:

(i) Out of the 9,34,355 complaints, 2,93,924 (31.46%) were received at ORBIOS, while 6,40,431 (68.54%) were received at CRPC. As per the report, 88.77% of the complaints received at ORBIOS came through digital modes, including the online Complaint Management System (CMS) portal and the Centralised Public Grievance Redress and Monitoring System (CPGRAMS).
(ii) The report highlighted that ORBIOS resolved 57.07% of maintainable complaints through mutual settlement, conciliation, or mediation, while 40.78% were dismissed due to the absence of any service deficiency.
(iii) CRPC witnessed a sharp increase in complaints, receiving 7,66,957 complaints (including those assigned to ORBIOS/Consumer Education and Protection Cells (CEPCs)), reflecting a 30.10% rise compared to the previous year.

📚 Test Your Knowledge:

As per the recently released RBI Ombudsman Annual Report 2023-24, what percentage of complaints were successfully resolved in FY24?

Correct Answer: 95%

🚀 Quick Recap:

About RBI

Governor : Sanjay Malhotra
Headquarter : Mumbai