The instructions include appointment/tenure, roles and responsibilities, procedural guidelines, and monitoring mechanism for the IO. reserve Bank of India said in a statement.
All complaints rejected by the CIC, wholly or in part, will be reviewed by the IO before the final decision. CIC The complainant has been apprised, stating that the IO will not entertain any complaint directly from the members of the public.
reserve Bank of India The said directions would strengthen the internal grievance redressal mechanism within the CIC by enabling review of customer complaints prior to their rejection, by an independent apex level authority within the CIC.
In August, the RBI had decided to bring CICs under the purview of the Reserve Bank-Integrated Ombudsman Scheme, which covers regulated entities such as scheduled commercial banks, including urban co-operative banks, non-banking financial companies and non-scheduled primary co-operative banks. Deposit size of Rs. 50 crore and above to provide cost free alternative redressal mechanism to the customers of RE for complaints against CICs.
As per the directions issued today, the following types of complaints will be out of scope and will not be handled by the IO:
1. Complaints relating to fraud, misappropriation etc. resulting from deficiency in service, if any, on the part of CIC
2. Complaints/references relating to (a) internal administration, (b) human resources, or (c) employees’ salaries and emoluments
3. Reference in the nature of CIC’s suggestions and commercial decisions
4. Complaints which have been settled or are already pending by other forums like Consumer Disputes Redressal Commission, Courts etc.
5. Disputes for which resolution has been provided under section 18 of the Credit Information Companies (Regulation) Act, 2005
At present, consumers raise disputes through CIC’s websites, which are then forwarded to the credit institution from where the consumer has taken the loan. CICs cannot make any changes to the data unless authorized by the credit institution concerned.
As per the scheme, a regulated entity will not have the right to appeal in cases where an award is issued against it by the Ombudsman for not furnishing satisfactory and timely information or documents. Under this scheme, the Executive Director in charge of Consumer Education and Protection Department of Reserve Bank of India will be the Appellate Authority.