RBI proposes ₹3 lakh compensation for harassment in dealing with complaints

Business Oct 07, 2025

Big update from the Reserve Bank of India: The RBI has proposed that if a bank messes up and you lose money, you may be able to get compensation up to ₹30 lakh through the banking ombudsman.
Plus, if dealing with the complaint has been a hassle or caused harassment, there's a proposal for an extra ₹3 lakh that can be awarded for your time and trouble.
It's all about making sure customers feel heard and supported.

New rules will apply to all banks

Starting November 1, customers of state and central co-operative banks will have easier access to the ombudsman system for resolving issues.
If your bank doesn't sort out your complaint within 30 days, you can take it straight to RBI.
The goal: faster, fairer resolutions for everyone who uses different types of banks.