Answer-Under the Reserve Bank - Integrated Ombudsman Scheme, 2021 (RB-IOS), a complaint is maintainable onl...

1. Exhaustion of Remedy Unlike some consumer laws, you cannot jump straight to the Ombudsman. You must first give the Regulated Entity REbe it a Bank, NBFC, or Payment System Participant a chance to fix the issue. 2. The 30-Day Rule The cause of action for the Ombudsman arises only if o The RE rejects the complaint partially or wholly. o The RE does not respond within 30 days of receiving your complaint. o You are not satisfied with the response provided. 3. The Limitation Period If the bank replies You have 1 year from the date of that reply to file with the Ombudsman. o If the bank does NOT reply You have 1 year and 30 days from the date you first complained to the bank. 4. One Nation, One Ombudsman Unlike the 2006 scheme, which had territorial limits, the 2021 scheme allows you to file at a single point the Centralised Receipt and Processing Centre CRPC, Chandigarh, or through the online portal regardless of where your branch is located.

Question

Under the Reserve Bank - Integrated Ombudsman Scheme, 2021 (RB-IO

S , a complaint is maintainable only if which of the following conditions regarding the "Pre-requisites for Filing" is met?

A The complainant directly approaches the Centralised Receipt and Processing Centre (CRPC) within 15 days of the grievance arising, without any prior contact with the bank.

B The complainant has first made a written representation to the Regulated Entity, and either received a rejection or received no reply within 30 days, provided the complaint to the Ombudsman is filed within one year of the bank's reply.

C The complainant files the grievance with the Ombudsman only after the dispute has been settled by a Consumer Forum or a Civil Court to ensure judicial consistency.

D The complainant waits for exactly 60 days after the bank's rejection to allow for internal mediation before approaching the Ombudsman.

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