The Union Finance Ministry is set to enhance the Complaint Management System at the Reserve Bank of India (RBI) by integrating advanced features and AI tools to improve complaint resolution efficiency. Minister of State for Finance, Pankaj Chaudhary, announced that the Reserve Bank-Integrated Ombudsman Scheme (RB-IOS) will undergo revisions to streamline processes. In response to rising delays in resolving complaints, as noted by S. Niranjan Reddy in the Rajya Sabha, Chaudhary explained that increased complaint volumes and case complexities have contributed to longer turnaround times for unauthorized digital payments, rising from 36.3 days in FY 2022-23 to 68.3 days in FY 2024-25. The RBI’s annual report for FY 2024-25 revealed a significant surge in consumer complaints, with 13.34 lakh registered—an increase of 13.55% from the previous year, pointing to growing concerns over loans, credit cards, and digital fraud. These initiatives aim to bolster operational efficiency and enhance customer experience.
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