Starting July 1, 2026, the Reserve Bank of India (RBI) is launching a significantly upgraded Integrated Ombudsman Scheme (RB-IOS) 2026. This new framework replaces the 2021 version, offering higher compensation, expanded coverage (including rural co-operative banks), and a “One Nation, One Ombudsman” approach to make grievance redressal faster and more transparent.
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Also Read | Budget 2026: First-time homebuyers could get these 5 major reliefs in this budget.
1. High Compensation Limits
The 2026 scheme has increased the financial relief available to customers by 50% compared to the previous version.
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Financial Loss: The Ombudsman can now award up to ₹30 Lakh (up from ₹20 Lakh) for actual financial losses suffered due to service deficiency.
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Mental Harassment: You can receive up to ₹3 Lakh (up from ₹1 Lakh) for mental agony, harassment, and loss of time.
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No Dispute Cap: There is now no upper limit on the value of the dispute you can bring to the Ombudsman.
Also Read | Budget 2026: First-time homebuyers could get these 5 major reliefs in this budget.
2. How to File a Complaint: The “30-Day Rule”
You cannot go to the RBI directly. You must follow this specific timeline:
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Lodge a formal complaint with your bank/financial institution first.
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Wait 30 Days: If the bank doesn’t respond or provides an unsatisfactory resolution, you can then escalate.
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Escalation Window: You must approach the RBI Ombudsman within 1 year of receiving the bank’s response (or within 90 days for certain specific categories).
Filing Channels:
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Online Portal: cms.rbi.org.in (Fastest & 24/7)
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Email:
[email protected] -
Toll-Free Helpline: Dial 14448 for guidance (8:00 AM to 10:00 PM).
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Physical Mail: Write to the Centralised Receipt and Processing Centre (CRPC), RBI, 4th Floor, Sector 17, Chandigarh 160017.
Also Read | Budget 2026: First-time homebuyers could get these 5 major reliefs in this budget.
3. Who is Covered in 2026?
The scheme now covers a wider range of entities to ensure no customer is left out:
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All Commercial Banks and Regional Rural Banks.
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Rural Co-operative Banks (State and District Central Co-operative Banks) — New for 2026.
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NBFCs with assets of ₹100 Crore and above.
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Digital Wallets and Non-bank PPI issuers.
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Credit Information Companies (CIBIL, Experian, etc.)…
4. Quick Summary of Changes
| Feature | Old (2021 Scheme) | New (2026 Scheme) |
| Max Financial Award | ₹20 Lakh | ₹30 Lakh |
| Max Mental Agony Award | ₹1 Lakh | ₹3 Lakh |
| Dispute Value Limit | Restricted | Unlimited |
| Rural Co-op Banks | Excluded | Included |
| Appellate Authority | Executive Director, RBI | Executive Director, RBI |
Also Read | Budget 2026: First-time homebuyers could get these 5 major reliefs in this budget.
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