Reserve Bank of India introduces internal ombudsman mechanism for CreditInformation Companies

The directions, issued by the Reserve Bank of India, include the appointment/tenure, role and responsibilities, procedural guidelines, and oversight mechanism for the Internal Ombudsman. All complaints that are partly or wholly rejected by CreditInformation Companies will be reviewed by the IO before the final decision of the CIC is conveyed to the complainant, it said, adding that the IO will not entertain any complaints directly from the members of public.

from Banking/Finance-Industry-Economic Times https://ift.tt/5ovI7xt