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How the Ombudsman Scheme Handles Complaints Efficiently
- 2. INTRODUCTION The Ombudsman scheme is a system that provides independent and impartial dispute resolution services between an organization and its customers or clients. It is typically established by government agencies or private organizations to ensure that the rights of individuals are protected and that complaints are handled fairly and efficiently.
- 3. HISTORY The word "Ombudsman" comes from the Swedish word "ombudsman," which means "representative.“ The first modern Ombudsman scheme was established in Sweden in 1915 In the United Kingdom, the first Ombudsman scheme was established in 1967, followed by the first Financial Ombudsman Service in 2000. In the United States, the first Ombudsman was established in the 1960s, and since then, many government agencies, educational institutions, and corporations have established Ombudsman schemes.
- 4. The SEBI (Ombudsman) Regulations, 2003 (Ombudsman Regulations) were notified on August 21, 2003. The Ombudsman Regulations were subsequently amended on December 5, 2003 and November 9, 2006 in order to operationalize certain provisions of the regulations.
- 5. FUNCTIONS Receiving complaints Investigating complaints Making recommendations Providing advice and guidance Monitoring and reporting Promoting good practice
- 6. INVESTORS COMPLAINT CELL Ombudsman will accept the complaint in case where the complaint is not solved by concerned entity or intermediary within one month of making representation to the concerned entity or intermediary. Complaint Registration. Send Remainder. View Complaint Status. Toll Free Helpline: 1800 266 7575.
- 7. Grounds on which complaints can be made to Ombudsman Non receipt of share certificate Non receipt of debenture certificate Non receipt of unit certificate Non receipt of refund of allotment money in case of non allotment Non receipt of dividend to shareholders Non receipt of annual statements or annual reports relating to portfolio Any grievance in respect of issue or dealing in securities against an intermediary or a listed company
- 8. TYPES Financial Ombudsman Scheme Public Sector Ombudsman Scheme Industry-Specific Ombudsman Scheme Workplace Ombudsman Scheme Academic Ombudsman Scheme Human Rights Ombudsman Scheme
- 9. THANK YOU