To enhance the effectiveness of its grievance redressal systems, the Reserve Bank of India (RBI) has urged Credit Information Companies to designate an internal ombudsman (IO) by ______.
To enhance the effectiveness of its grievance redressal systems, the Reserve Bank of India (RBI) has urged Credit Information Companies to designate an internal ombudsman (IO) by April 1, 2023. The Central Bank made the decision in August to include CICs in the scope of the RBI-Integrated Ombudsman Scheme 2021 in order to broaden its appeal. The RBI claimed that the action would give clients of regulated businesses a free alternative dispute resolution method for complaints regarding CICs. Only complaints that the CIC has already reviewed but rejected in whole or in part will be handled by the IO. Direct complaints from complainants or members of the public won't be handled by it. A Credit Information Company (CIC) is an organization which collects and analyses credit and loan related data about individuals and companies and generates its products and services on the basis of this data. This data is provided to CICs by their member banks and other financial institutions. Reserve Bank-Integrated Ombudsman Scheme (RB-IOS) A Scheme for resolving customer grievances in relation to services provided by entities regulated by Reserve Bank of India in an expeditious and cost-effective manner under Section 35A of the Banking Regulation Act, 1949 (10 of 1949), Section 45L of the Reserve Bank of India Act, 1934 (2 of 1934) and Section 18 of the Payment and Settlement Systems Act, 2007 (51 of 2007).
India’s monthly merchandise exports remaining above US$ ______ for the first time in March of FY 2021-22?
Which institute received the Africa Food Prize 2021, for the Tropical Legumes Project that has improved income and food production in sub-Saharan Africa?
Which of the following factors is responsible for the disease called ‘Mad Hatter’s Disease’?
The Is of Doing Business Report does not determine the regulators who affect __________.
The Monetary Policy Committee (MPC) at its meeting in December 7, 202 decided to increase the Bank Rate to how much Basis point/percent?
When was the Planning Commission of India dissolved by the Union Government of India?
Which of the following is the longest dam in India in 2022?
What is the name of the 1st privately-owned spacecraft that effectively landed on the moon?
At the Dadasaheb Phalke Award 2022 ceremony held on 20th February 2022 in Mumbai, which Indian movie has won the Best Film Award?
Which of the following options accurately describes the focus of the World Bank's and IMF's respective reports?