The Reserve Bank of India (RBI) held its third annual Conference of Internal Ombudsmen (IOs) in Mumbai on July 13, 2026, bringing together IOs from banks, NBFCs, credit information companies, CEOs, MDs, Principal Nodal Officers, RBI Ombudsmen, and senior officials.
Deputy Governor Swaminathan J. delivered the keynote, urging IOs to ensure fair, meaningful, and effective resolution of customer complaints, conduct root cause analysis of recurring issues, and implement remedial measures to prevent repeat grievances.
He emphasized that IOs must remain independent, empowered, and supported at the board level to strengthen customer-centric governance and reduce escalations to the RBI Ombudsman.
Sessions covered regulatory expectations, grievance redress developments, and insights from RBI Ombudsmen, while Executive Director Sonali Sen Gupta led an open-house discussion to enhance the IO framework’s effectiveness.
The conference also highlighted the RBI Ombudsman Scheme 2026, which offers compensation up to ₹33 lakh for consequential losses and ₹3 lakh for harassment or mental anguish, ensuring faster and higher-quality grievance redress across regulated entities.
