On 06-10-2022, the Reserve Bank of India has mandated Internal Ombudsman mechanism for Credit Information Companies (CICs) vide RBI (Credit Information Companies- Internal Ombudsman) Directions, 2022. These Directions are introduced with a view to strengthen the internal grievance redress mechanism within the Credit Information Company (CIC) by enabling a review of customer complaints before their rejection, by an independent apex level authority within the CIC.

All Credit Information Companies (CICs) holding a Certificate of Registration shall appoint Internal Ombudsman (IO) at the apex of their internal grievance redress mechanism by 01-04-2023.

The Direction covers, inter-alia, the appointment/tenure, role and responsibilities, procedural guidelines, and oversight mechanism for the IO. Under the mechanism, all complaints that are partly or wholly rejected by CICs will be reviewed by the IO before the final decision of the CIC is conveyed to the complainant. The IO will not entertain any complaints directly from the members of public.

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