RBI's Ombudsman Scheme: How to Complain About Your Bank

What the scheme covers

The Reserve Bank - Integrated Ombudsman Scheme (RB-IOS) is a free, alternate dispute-resolution mechanism for deficiency-of-service complaints against commercial banks, regional rural banks, co-operative banks with deposits above a threshold, most deposit-taking and larger NBFCs, and payment system participants.

(RB-IOS 2026 took effect from 1 July 2026, tightening several provisions of the earlier RB-IOS 2021 - checked as of September 2026; complaints filed before that date continue under the 2021 scheme's terms.)

The process, step by step

1. Approach the bank or NBFC directly first, through its own grievance/complaint cell.
2. Wait up to 30 days for a response - or escalate immediately if you're clearly dissatisfied with what you get back.
3. If unresolved, file with the RBI Ombudsman - entirely free, with no filing charges at any stage.

What the Ombudsman can actually award

Beyond simply resolving the specific complaint, the Ombudsman can award compensation up to ₹30 lakh for a consequential financial loss caused by the deficiency, plus a further compensation up to ₹3 lakh separately for harassment, mental anguish, and time/expense the complainant incurred pursuing the matter.

What it's genuinely useful for

Wrongful account charges, unresolved failed digital transactions, credit card billing disputes, loan-related service deficiencies, and similar bank-side service failures - not disputes about commercial loan terms themselves or matters already before a court.

The takeaway

This is a real, free, and reasonably powerful escalation path when a bank isn't resolving a legitimate service complaint on its own - the 30-day-first-approach rule is the one procedural step worth remembering before going straight to the Ombudsman.