A Comprehensive Guide to Grievance Redressal by RBI and SEBI

In the complex realm of finance, facing challenges can be daunting, but fear not! Regulatory bodies like the Reserve Bank of India (RBI) and the Securities and Exchange Board of India (SEBI) have introduced user-friendly mechanisms for grievance redressal, providing consumers with a direct defense. This Digital Awareness Week, let's explore how you can voice your concerns, seek justice, and become financially fit.

SCORES BY SEBI

The SCORES online grievance redressal mechanism is your gateway to redressal mechanism if you're an investor facing issues like the transfer of securities or non-payment of dividends with listed companies, SCORES is your ally in seeking justice. With SEBI SCORES, any investor facing issues such as the transfer of securities or non-payment of dividends from listed companies can file a complaint. Whether encountering challenges with financial transactions, unauthorized fees, or unjustified loan rejections, SCORES provides a seamless platform for filing complaints. To file a complaint, investors are required to register on the SCORES portal. The system ensures accessibility and efficiency, allowing individuals to seek redressal for a diverse range of concerns within the realm of securities and investments. This online portal and mobile app provide a seamless platform for filing complaints and keeping track of their status, ensuring that your concerns are addressed effectively.

To register on the SCORES portal, individuals are required to furnish essential details such as name, address, email address, PAN, and mobile number. Once registered, navigate to "Complaint Registration" under the "Investor Corner" section, following the outlined steps. You can even attach supporting documents in PDF format (up to 2MB) for a more comprehensive presentation of your grievance. Notably, the platform becomes particularly valuable when a company's response to your concern falls short of satisfaction. The SCORES mechanism ensures that investors have a direct channel to SEBI, empowering them to seek redressal for their grievances swiftly and efficiently. So, if you've faced a hiccup in your investment journey, SCORES is your go-to compass for resolution. To file your complaint or to know more, click here: https://scores.gov.in/scores/Welcome.html?

Ombudsman Scheme by RBI

The RBI's Ombudsman Scheme is your Gateway to Grievance Resolution. It is a beacon for consumers in disputes with banks. Launched in 2006, this scheme addresses issues such as non-compliance with regulations and forced closures of accounts. Filing complaints is easy – ensure they're in written form and sent to the concerned bank. If dissatisfied with the response, consumers can plea to the Ombudsman.?

The online complaint process is user-friendly, starting with a visit to the designated online complaint platform. Select the relevant Banking Ombudsman office based on jurisdiction and proceed to fill in essential details such as bank name, branch name, complaint details, and your mobile number. After submitting the form, users can upload supporting documents, including the complaint, the bank's response, and any additional evidence. An acknowledgment of the complaint is provided after a review by the Ombudsman, and within 30 days, they aim to resolve the issue, with possible contact for clarification if needed. This streamlined process ensures a swift and efficient resolution to consumers' banking grievances. To file your complaint or to know more, click here: https://cms.rbi.org.in/cms/indexpage.html#eng?

In the digital landscape, awareness of tools for grievance redressal is crucial. During this Digital Awareness Week from March, familiarize yourself with the grievance redressal tools because knowledge is your greatest asset in the financial world, providing a strong defense against hiccups in your financial journey.

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