login-icon
mahindra-finance-logo
login-icon
  • English
  • Hindi
  • Bengali
  • Marathi
  • Telugu
  • Tamil
  • Gujarati
  • Kannada
  • Odia
  • Malayalam
  • Punjabi

Scheme covers customers of

All deposit taking NBFCs

NBFCs with assets size >= Rs. 100 crore + customer interface

Grounds for filing a complaint by a customer

  • Interest/Deposit not paid OR paid with delay
  • Cheque not presented OR done with delay
  • Not conveyed the amount of loan sanctioned, terms & conditions, annualised rate of interest, etc.
  • Notice not provided for changes in agreement, levy of charges
  • Failure to ensure transparency in contract/loan agreement
  • Failure/ Delay in releasing securities/ documents
  • Failure to provide legally enforceable built-in repossession in contract/ loan agreement
  • RBI directives not followed by NBFC
  • Guidelines on Fair Practices Code not followed

Frequently Asked Questions

Get all your top questions answered with our Ombudsman Scheme FAQS

How can a customer file a complaint?

Content for above process

Written representation to NBFC concerned 

Written representation to NBFC concerned 

If reply is not received from NBFC or customer remains dissatisfied with the reply of NBFC

If customer has not approached any forum

File a complaint with NBFC Ombudsman (not later than one year after the reply from NBfC)

How does the Ombudsman take decisions?

Proceedings before the Ombudsman are summary in nature. They promote settlement through conciliation → If not reached, can issue Award/Order

Can a customer appeal, if not satisfied with the decision of the Ombudsman?

Yes, If Ombudsman’s decision is appealable → Appellate Authority: Deputy Governor, RBI

Is this the only way to place a complaint?

No, this is an Alternate Dispute Resolution mechanism. Customer is at liberty to approach any other court/forum/authority for the redressal at any stage

Address and Area of Operation of
NBFC Ombudsman