Under the RBI Integrated Ombudsman Scheme, 2021, which replaced the earlier separate ombudsman schemes for banks, NBFCs and payment systems, complaints relating to deficiency in banking, NBFC and digital payment services can be filed with a single ombudsman. What is the value limit up to which such complaints are maintainable?

The RBI Integrated Ombudsman Scheme, 2021 consolidates the Banking Ombudsman Scheme, 2006, the Ombudsman Scheme for Non-Banking Financial Companies, 2018 and the Ombudsman Scheme for Digital Transactions, 2019 into a single mechanism with a single ombudsman, and covers deficiency in service by banks, NBFCs and payment system participants. Complaints of value up to fifty lakh rupees are maintainable under the scheme, subject to the cause of action being within the prescribed time, and an appeal from the ombudsman's award lies to a Deputy Governor of the Reserve Bank. The scheme also covers complaints against digital payment service providers on grounds of deficiency of service. Limits like twenty or twenty-five lakh rupees do not match the scheme's threshold, and its coverage is not unlimited in value.