(ET)
The Reserve Bank of India has launched the ombudsman scheme for digital payments, the banking regulator announced in a release today. It had first spoken about the scheme in the December 5 monetary policy statement promising to create a separate ombudsman for digital payments.
“As announced … the Reserve Bank of India (RBI) today launched the Ombudsman Scheme for Digital Transactions (OSDT)… for redressal of complaints against System Participants as defined in the said scheme,” the regulator in a statement.
Further the regulator added that the scheme will provide free of cost redressal mechanism to grievances raised by customers for digital transactions undertaken by them through non-banking channels, like mobile wallets or tech enabled payment companies using UPI for settlements.
