New Delhi, Jan. 19 -- The Reserve Bank of India (RBI) has removed the limit on the value of disputes that a complainant can bring before an RBI Ombudsman under the Reserve Bank-Integrated Ombudsman Scheme (RB-IOS), 2026.

Under the revised framework, the Ombudsman or Deputy Ombudsman may facilitate a settlement or pass an award irrespective of the amount involved in the dispute.

Compensation Limits Specified

While there is no ceiling on the dispute amount, the Ombudsman may award compensation of up to Rs 30 lakh for consequential losses suffered by a complainant. In addition, compensation of up to Rs 3 lakh may be granted for loss of time, expenses incurred, harassment or mental anguish, if any.

Wider Coverage and Implementation Timeli...