The banking ombudsman scheme allows complaints related to loans and advances for issues such as non-compliance with Reserve Bank directives on interest rates, delays in loan processing, refusal to accept applications without valid reasons, and other specified non-observances of RBI instructions.

1. BANKING
OMBUDSMAN SCHEME

5. Regarding loans and advances, complaints with respect to the following
areas can be lodged:
▪ Non-observance of Reserve Bank Directives on interest rates;
▪ Delays in sanction, disbursement or non-observance of prescribed time
schedule for disposal of loan applications;
▪ Not accepting application for loans without furnishing valid reasons to the
applicant; and
▪ Non-observance of any other direction or instruction given by the Reserve
Bank as may be specified by the RBI for this purpose from time to time.