The Reserve Bank of India has launched an Ombudsman Scheme for Digital Transactions (OSDT) intended for redressal of complaints against non-bank entities. It covers prepaid payment instruments, mobile or electronic fund transfers, Unified Payments Interface, Bharat Bill Payment System, Bharat QR Code and UPI QR Code. The scheme will provide a cost-free and expeditious complaint redressal mechanism for customers. They can report any deficiencies in customer services in digital transactions conducted through non-bank entities that come under RBI’s supervision. RBI will appoint one or more of its officers in the rank of chief general manager or general manager to be known as ‘Ombudsman for Digital Transactions’ for a period not exceeding three years at a time. The scheme provides for an appellate mechanism under which the complainant and the non-bank entity has the option to appeal against the decision of the Ombudsman before the appellate authority. For digital transactions conducted through banks, complaints will continue to be handled under the Banking Ombudsman Scheme.
