- The Reserve Bank of India (RBI) has introduced the Ombudsman Scheme for Digital Transactions, 2019 for redressal of complaints against deficiency in services related to digital transactions. It has come into effect from January 31, 2019.
- Complaints to be handled under the Ombudsman Scheme for Digital Transactions, 2019:
- Complaints related to Prepaid Payment Instruments,
- Mobile / Electronic Fund Transfers,
- Unified Payments Interface (UPI) / Bharat Bill Payment System (BBPS) / Bharat QR Code / UPI QR Code,
- Non-reversal / failure to reverse within reasonable time, funds wrongly transferred to the beneficiary account due to lapse at the end of System Participant.
- Excess Fees charged w.r.t digital payment
- Maximum compensation under this scheme is Rs 20 lakh. (This is for the actual loss suffered due to issues in payment system). Note: The compensation that one will get is the amount of loss suffered or Rs 20 lakh whichever is lower.
- Maximum compensation for for mental agony and harassment: Rs 1 lakh.
- As on date, 21 Ombudsman for Digital Transactions have been appointed.
- Appellate Authority: Deputy Governor (Presently Shri M. K. Jain)
Points to remember:
- Maximum compensation for payment issue?
- Maximum compensation for mental stress?
- How many Ombudsman for Digital Transactions?
- Who is the Appellate Authority?- DG