Question
Recently RBI launched ombudsman scheme for:
Solution
The RBI launched 'Ombudsman Scheme' for non-banking financial companies (NBFC) for redressal of complaints against them. It was formed under section 45-IA of the RBI Act, 1934. The offices of the NBFC ombudsmen will function at four metro centres -- Chennai, Kolkata, Mumbai and New Delhi. Banking Ombudsman Scheme is in effect from 1995 under Banking Regulation Act 1949.
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