The Case of the Silent Bank
Anita lost ₹40,000 in a UPI fraud. She reported it to her bank within 2 hours. According to RBI rules, she had zero liability. But the bank kept closing her tickets saying "Customer Negligence".
For 30 days, she called the helpline daily with no result. Finally, she logged into the RBI CMS Portal. She uploaded the rejection email.
Within 7 days, the Bank Manager called her personally. The ₹40,000 was credited the next morning. That is the power of the Ombudsman.
Financial security involves knowing the hierarchy. Above the Branch Manager, there is the Nodal Officer. And above the bank itself, there is the Regulator (RBI/SEBI).
1. The RBI Integrated Ombudsman Scheme (RB-IOS)
Known as "One Nation One Ombudsman", this is the ultimate authority for complaints against Banks, NBFCs (Loan Apps), and Digital Wallets (PhonePe/Paytm).
When can you file a complaint?
You cannot go directly to the Ombudsman. You must satisfy ONE of these conditions:
- You complained to the bank, but received NO reply within 30 days.
- The bank rejected your complaint.
- The reply was not satisfactory.
How to File (Step-by-Step)
2. SEBI SCORES 2.0 (For Market Grievances)
If your issue is with a Stockbroker (Zerodha/Upstox/Groww), Mutual Fund House, or a Listed Company, RBI cannot help. You need SEBI (Securities and Exchange Board of India).
Common Issues: Funds not withdrawn from demat account, dividend not received, unauthorized trades.
The Protocol:
- First, complain to the broker/company.
- If unresolved, go to SEBI SCORES 2.0.
- Timeline: Entities must resolve SCORES complaints within 21 calendar days. Failure to do so attracts heavy penalties.
3. The "Sachet" Portal (Identifying Scams)
Have you heard of a scheme offering "Double Money in 6 Months"? Before investing, check the RBI Sachet Portal.
🛑 The Ponzi Detector
The Sachet portal (sachet.rbi.org.in) allows you to check if a company is registered to accept deposits. If a company is not on this list but asks for deposits, it is illegal. You can report such schemes anonymously here.
4. CyberCrime Portal (1930)
For pure fraud (where money is stolen by a third party), your first stop is always 1930 or cybercrime.gov.in.
The Golden Hour: If you report within 1 hour of the fraud, the police can freeze the money in the scammer's bank account before it is withdrawn.
The Escalation Matrix (Cheat Sheet)
| Issue Type | Authority | Website |
|---|---|---|
| Banking / Loan Apps | RBI Ombudsman | cms.rbi.org.in |
| Stocks / Mutual Funds | SEBI SCORES | scores.sebi.gov.in |
| Insurance Claims | IRDAI Bima Bharosa | bimabharosa.irdai.gov.in |
| Cyber Fraud | Cyber Police | cybercrime.gov.in |
Conclusion: You Are Not Powerless
Banks and brokers are powerful, but they operate under strict licenses. The fear of the Regulator is real. When you file a complaint on these portals, you are not asking for a favor; you are exercising your legal right.
Bookmark these links today. You might not need them now, but on a bad day, they will be your most powerful weapon.