Delhi HC: Writ Petition Not Maintainable Against Provisional Attachment When PMLA Remedy Exists  ||  Rajasthan HC: Magistrate Can’t Order Secured Creditor to Pay Police Expenses For Asset Possession  ||  Orissa HC: Court Can’t Permit Intervenors Without Reason or Compel Plaintiff to Join Unrelated Party  ||  Delhi HC: Section 498A IPC Applies Even if Marriage is Later Declared Invalid  ||  AP HC: State Can’t Cite Financial Constraints to Withhold Gratuity, Denying Retirees Violates Art 21  ||  Madras HC: Marriage Does Not Grant Men Absolute Authority, Woman’s Endurance is Not Consent  ||  Delhi HC: Ordinary Marital Friction or Taunts Do Not Constitute Cruelty under Law  ||  Punjab & Haryana HC: Family Property Disputes Cannot Be Resolved under Maintenance of Parents Act  ||  Delhi HC: Bribe Profits Invested in Shares Are Proceeds of Crime and Attachable under PMLA  ||  Delhi HC: 'No Coercive Steps' Does Not Mean Stay or Suspension of Investigation    

Prime Minister launches RBI’s two customer-centric initiatives - (12 Nov 2021)

Banking

Prime Minister launches two customer-centric initiatives of the Reserve Bank of India (RBI) for investors that is RBI Retail Direct (RBI-RD) scheme and Reserve Bank - Integrated Ombudsman Scheme (RB-IOS). The Scheme aims to provide a safe, simple, direct and secured platform to investors. Further, the Scheme will provide cost-free redress of customer complaints involving deficiency in services rendered by entities regulated by RBI, if not resolved to the satisfaction of the customers or not replied within a period of 30 days by the regulated entity.

The Reserve Bank of India-Retail Direct (RBI-RD) Scheme will bring G-secs within easy reach of the common man by simplifying the process of investment. Under the Scheme, retail individual investors will be able to open a Retail Direct Gilt (RDG) Account with the Reserve Bank of India, using an online portal.

Under RB-IOS, it will no longer be necessary for a complainant to identify under which scheme he/she should file complaint with the Ombudsman. The Scheme defines ‘deficiency in service’ as the ground for filing a complaint, with a specified list of exclusions. Therefore, the complaints would no longer be rejected simply on account of “not covered under the grounds listed in the scheme”. The Scheme has done away with the jurisdiction of each ombudsman office. The Executive Director-in charge of Consumer Education and Protection Department of RBI would be the Appellate Authority under the Scheme. The Scheme adopts ‘One Nation One Ombudsman’ approach by making the RBI Ombudsman mechanism jurisdiction neutral.

Tags : SCHEME   LAUNCH   INVESTORS  

Share :        

Disclaimer | Copyright 2025 - All Rights Reserved