Want to file complaint to RBI against the bank?
If you are being harassed by loan recovery agents, you can file a complaint to RBI Banking Ombudsman as harassment is against the law. Our experts explain why you should not suffer in silence and what you can do including how the Banking Ombudsman can come to the rescue.
According to RBI regulations, banks' debt collection procedures should be built around the dignity and respect of clients. Bank policies that are excessively coercive in the pursuit of collections are not permissible. Recovery agents are mandated to follow these guidelines:
Yes, you can. The Reserve Bank of India has established a Banking Ombudsman to handle client complaints regarding bank services, including the following:
You can submit a complaint against a Regulated Entity (such as a bank or NBFC) for poor service directly or through an authorized representative. However, if you wish to file a complaint with the Banking Ombudsman, you must first send a written complaint to the Regulated Entity and only after it was rejected totally or in part may you proceed.
The complaint may be filed online through the portal dedicated to this purpose (www.cms.rbi.org.in). It may also be sent by email or postal mail to the Centralised Receipt and Processing Centre.
The Ombudsman will attempt to assist, conciliate, or mediate a dispute between a complainant and the Regulated Entity, if feasible.
The Ombudsman may take any action it sees fit, including having the complainant meet with representatives of a Regulated Entity to seek to resolve the problem through conciliation or mediation, in the case of a complaint that is not resolved by facilitation.
The Ombudsman is authorized to award up to Rupees 20 lacs in compensation. The Ombudsman can also compensate the complainant for not more than one lakh rupees for the time, expenses, and mental stress incurred.
Ideally you should take proactive action to resolve the situation so that harassment can be totally avoided. This can be done by:
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