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(Photo Source: Inc42.com) <ul><li>India’s central bank plans to implement an <keyword id="4839943" type="PERSON" weightage="20" keywordseo="Ombudsman-Scheme">ombudsman scheme</keyword> to address complaints related to digital payments. </li><li>All payment services provided by entities that are currently regulated by the Reserve Bank of India will be included. </li><li><keyword id="30067" type="ORGANIZATION" weightage="20" keywordseo="RBI">RBI</keyword> has also issued instructions for limiting the liability of consumers in case of unauthorised e-transactions involving debit and credit cards issuing non-banking financial companies. </li></ul>India has witnessed a dramatic increase in the use of e-wallets and digital payments transactions over the past year. Nothing is more worrisome than getting a pop-up, “Your payment failed” soon after you have transferred money digitally. Moreover, not having a complaint system adds even more worry. It is quite common for Indian users to witness payment failures. To address this, the Reserve Bank of India will appoint an ‘ombudsman’ to specifically address all the complaints related to digital payments for prepaid instruments. Its existing banking ombudsman <a href="https://m.rbi.org.in/Scripts/FAQView.aspx?Id=24">allows</a> consumers to seek the help of a senior official appointed by the bank to address banking-related complaints. The bank has said it will soon implement a “cost-free, speedy and dedicate” ombudsman scheme to address all the consumer complaints against multiple issues faced while doing digital transactions in India. Additionally, it is also planning to limit customer liability in case of unauthorised electronic transactions involving banks and credit card issuing non-banking financial companies (NBFCs). Once notified, the scheme will cover all the services provided by entities registered under the Reserve Bank’s regulatory jurisdiction. — With IANS inputs

India will soon have an ‘ombudsman’ to address consumer complaints about digital payments

Customers' complaints about problems like cash withdrawal and exchange of old notes faced post <keyword id="3315394" type="UNKNOWN" weightage="20" keywordseo="demonetisation">demonetisation</keyword> cannot be entertained under the Banking <keyword id="49909" type="UNKNOWN" weightage="100" keywordseo="ombudsman">Ombudsman</keyword> (BO) scheme, according to PTI news report. The central bank said that demonetisation is not one of the 27 grounds under which a customer can lodge a complaint with the Banking Ombudsman. During the demonetisation period, people had to face various problems in form of restrictions on withdrawal of currency notes and exchanging of old Rs 500 and Rs 1,000 notes that were withdrawn with immediate effect from midnight of November 8, 2016. "Banking Ombudsman Scheme (<keyword id="4744034" type="UNKNOWN" weightage="20" keywordseo="bo-scheme">BO Scheme</keyword>), 2006 specifies 27 grounds of complaints under which complaints can be lodged. Complaints related to demonetisation is not a ground of complaint specified under the Scheme," a Right to Information (<keyword id="6356198" type="ORGANIZATION" weightage="20" keywordseo="RTI">RTI</keyword>) query sent to the <keyword id="50847" type="CITY" weightage="20" keywordseo="Reserve-Bank">Reserve Bank</keyword> has revealed. In response to the question as to how many complaints came to RBI ombudsman offices across India related to demonetisation, the RBI stated: "As such information is not available." When contacted, a banking ombudsman officer said, "Demonetisation does not come under Ombudsman Scheme." All India Bank Officers' Confederation (AIBOC) Secretary General Harvinder Singh said a lot many complaints came to banks during the demonetisation period and the lenders tried to resolve them to the extent possible, barring a few. "Many complaints came through emails, letters, phone calls and through personal visits. Even complaints were made directly to the Department of <keyword id="6354241" type="COMPANY" weightage="20" keywordseo="Financial-Services">Financial Services</keyword>," Singh said. However, for example when banks were instructed to allow withdrawal of up to Rs 2.5 lakh by a family having marriage, the lenders could not help on time as the formal directives came late, he added. The banking ombudsman scheme covers complaints related to deficiency in banking including Internbanking or other services, non-adherence to the instructions of the RBI on ATM/debit cards and prepaid card operations. It also covers complaints regarding non-adherence by the bank or its subsidiaries of RBI guidelines on credit card operations, non-adherence of norms related to mobile banking or electronic banking, non-disbursement or delay in disbursement of pension among others. Even as the window to exchange the disbanded high value currency notes ended on December 30, 2016, people still visit RBI offices, though in a scattered number, in a hope to exchange their old notes which they could not do within the stipulated time for some or the other reasons. A Gurgaon resident, visiting RBI Delhi office, said he found some Rs 8,000 in old currency notes which his son had hidden somewhere and now wanted to exchange it with new ones. "But there is no one to hear my complaint," he said. Here, it is pertinent to mention that the <keyword id="6354977" type="ORGANIZATION" weightage="20" keywordseo="Supreme-Court">Supreme Court</keyword> earlier this month has given the Centre and the RBI two weeks' time to consider the option of granting a window to those who could not deposit their old notes for genuine reasons. A Supreme Court bench is hearing a batch of petitions, including from individuals seeking a direction to authorities to allow depositing demonetised notes to banks in lieu of legal currency after being failed to do so under the given time-frame.

No complaints regarding demonetization and its after effects will be entertained under Banking Ombudsman

Mumbai, Dec 17 () Complaints to banking ombudsman rose by nearly 20 per cent to over 1.96 lakh during 2018-19, with non-adherence to fair practices accounting for the highest number of cases, RBI data released Tuesday showed.
Non-observance of fair practices code accounted for a maximum number of complaints, the Reserve Bank of India (RBI) said in the Annual Report of Ombudsman Schemes for 2018-19.
The complaints received at Offices of Banking Ombudsman (OBOs) rose by 32,311, taking the total to 1,95,901 complaints in 2018-19 over the previous year (1,63,590), recording a year-on-year increase of 19.75 per cent, the Reserve Bank said.
Even as complaints related to unfair practices topped the list, the percentage share came down to 19.17 per cent in 2018-19 from 22.10 per cent a year ago.
Complaints on ATM and debit card issues increased from 15.08 per cent in 2017-18 to 18.65 per cent in 2018-19; while those related to pension, levy of charges without notice, credit card related issues and remittance declined during the year, the RBI said.
The number of complaints pertaining to mis-selling have gone up from 579 complaints in 2017-18 to 1,115 in 2018-19, an increase of 92.57 per cent.
"The average cost of handling a complaint came down from Rs 3,504 in 2017-18 to Rs 3,145 in 2018-19," it said.
The disposal rate for 2018-19 was 94.03 per cent as against 96.46 per cent in 2017-18. The reduction in disposal rate is largely due to rise in volume of complaints with resource remaining the same, the central bank said.
The RBI said that during the year, the number of complaints resolved by agreement like through intervention of OBOs, mediation and conciliation among others rose 70.40 per cent from 65.82 per cent a year earlier.
Number of awards and appeals issued by banking ombudsmen stood at 98 and 78, respectively, as compared to 133 and 125, respectively a year earlier.
With relation to NBFC-O scheme which came to effect on February 23, 2018, as many 3,991 complaints were received, as against 675 in four months operation during 2017-18.
The scheme is administered from offices of the NBFC-Os in four metro centres Chennai, Kolkata, Mumbai and New Delhi for handling complaints from the respective zones, so as to cover the entire country. 
Non-adherence to fair practices code constituted 40.44 per cent of complaints received, followed by non-observance of RBI directions (17.21 per cent), levy of charges without notice (12.63 per cent) and lack of transparency in contract / loan agreement (9.17 per cent).
The disposal rate of NBFC-Os stood at 95.41 per cent in 2017-18 and 99.10 per cent in 2018-19. The RBI said one appeal has been received against the decision of NBFC-O during 2018-19, as compared to nil in the previous year.
Among the important developments during the year, RBI said that the Ombudsman Scheme for Digital Transactions was introduced on January 31, 2019 and the NBFC-O scheme was extended with effect from April 26, 2019 to cover the regulated non-deposit taking NBFCs having asset size of Rs 100 crore and above.
On the way forward for strengthening consumer protection, RBI said that during the ongoing fiscal, it would conduct a review of IO Scheme for extension to NBFCs.
It will also review the Consumer Education and Protection Cells (CEPCs) for empowering them on the lines of OBOs; review the Ombudsman Schemes for updation and effective implementation including through convergence and formulate policy to strengthen the system based on Root Cause Analysis of major areas of complaint.
The RBI said it will also introduce Interactive Voice Response System (IVRS) in CMS for online support to the customers.
Awareness generation about the grievance redressal mechanisms of the RBI and the Ombudsman Schemes as also campaigns on safe digital banking and the regulatory stipulations on customer protection would be continued, RBI said. KPM MKJ

Complaints to banking ombudsman rise 20% in FY'19: RBI

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">Marvel</div></div></div>European privacy watchdogs say they have a number of significant "concerns" with new international data transfer scheme Privacy Shield, promising further legal uncertainty for the thousands of companies reliant on transatlantic data flows.The Article 29 Working Party praised improvements of Privacy Shield compared to its predecessor on Wednesday, but still raised concerns, including on bulk surveillance and the lack of powers of the proposed ombudsman.The Working Party's decisions are not legally binding, but carry significant weight - particularly ahead of likely legal challenges to the agreement.Privacy Shield is designed as a replacement to Safe Harbor - a transatlantic legal mechanism that legitimised the transfer of personal data from Europe to the US, despite America's lesser privacy protections.It was abruptly struck down by the European Court of Justice (ECJ) in Autumn 2015 due to concerns over US government surveillance. US spying - first revealed by exiled NSA whistleblower Edward Snowden - meant US companies could not provide adequate protections to Europeans' data.Safe Harbor wasn't the only way to legitimise transatlantic data flows, but it was the most-straightforward, with more than 4,000 US companies relying on it to allow the transfer of everything from user data to payroll information.Negotiators were already working to replace the 2000 agreement, but the ECJ's decision created a new urgency. At the eleventh hour, a replacement was agreed upon - Privacy Shield.It aims to solve the issues raised by the ECJ, but concerns have remained, particularly from rights groups. It's likely that it will be challenged in the courts, and may well end up back at the European Court of Justice.Article 29, a Working Party of European privacy watchdogs, announced their verdict on Wednesday. It highlighted multiple "concerns" with Safe Harbor as it currently exists. One is the risk of mass surveillance of Europeans by US agencies: "The possibility is left in the Shield and its annexes for bulk collection."Another is the status of the ombudsperson, a proposed independent mechanism within the US Department of State. The worry is that there still are not guarantees as to the powers, independence, and effectiveness of the ombudsman."The onnus is now back on EU and US negotiators to address Article 29's concerns: They don't have to, but the issues raised, if left unaddressed, will likely form the basis for future legal challenges.<a href="http://fortune.com/2016/04/08/eu-us-data-deal-privacy-shield/">There were previously reports</a> that the regulators were not going to rubber stamp Privacy Shield because of their concerns.There had also been speculation that Article 29 would make a decision on the validity of alternative legal mechanisms for data transfer like binding model clauses on Wednesday, but it declined to do so - meaning they remain valid for the "immediate time."Article 29's decision will be published online on Wednesday afternoon.More to follow... <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/elide-fire-extinguishing-ball-puts-out-fires-instantly-2016-3">A man created a ball that extinguishes fire instantly after he survived a lethal hotel fire</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="ExNGxjMjE6upy8qaYA1NDBg4DInZGRFe" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

European privacy watchdogs have 'concerns' about a key new transatlantic data transfer agreement

New Delhi, Jan 3 () Defence Minister Rajnath Singh will inaugurate the three-day National Traders Convention here on January 6, which will deliberate upon various issues concerning traders, CAIT said on Friday.
Confederation of All India Traders (CAIT) said various critical issues of the trading community will be discussed at the convention, including "onslaught of e-commerce companies on retail trade by their mal-practices and violation of FDI policy and to seek immediate steps by the government to make them obligatory to comply with FDI policy or else leave the country".
"We are demanding to the government to make them (e-commerce companies) comply with the FDI policy," CAIT Secretary General Praveen Khandelwal told .
One of the key issues of concern to be taken up at the Convention is how e-commerce firms are destroying India's domestic retail trade, Khandelwal said, adding that traders are also hit by issues related to GST, Food Safety Standards Act and difficulties in availing bank loans.
He said a Delhi Declaration will be issued at the end of the three-day convention after detailed deliberations on all key issues affecting traders.
Khandelwal informed that CAIT is coming up with an initiative to link 7 crore traders across the country to e-commerce without any fee.
"We ran a pilot of this scheme in Chhattisgarh and Madhya Pradesh which was quite successful. Now we will roll it out across the country," he added. 
According to the traders' body, thousands of traders will participate in the convention to deliberate on several critical issues and release a Delhi Declaration as a mandate for 2020. The convention will also discuss role of trading community in achieving USD 5 trillion economy goal of Prime Minister Narendra Modi.
Khandelwal said Defence Minister Rajnath Singh will inaugurate the convention on January 6, which will also be attended by several Union ministers including Finance Minister Nirmala Sitharaman, Commerce Minister Piyush Goyal, Urban Development Minister Hardeep Puri, Health Minister Harsh Vardhan, Environment Minister Prakash Javadekar, Textile Minister Smriti Irani and Agriculture Minister Narendra Singh Tomar.
Early introduction of a comprehensive e-commerce policy, reforms needed for the e-commerce sector, including formation of a Regulatory Authority or Ombudsman, linkage of 7 crore traders with e-commerce under Digital India programme and ban on cash on delivery will also be discussed.
"Payment system in e-commerce will be elaborately discussed and future action plan will be chalked out. Similarly problems arising out of implementation of GST, simplification and rationalisation of GST tax structure, removal of disparities and anomalies in different GST tax rate slabs, blockage of refund with the government and ways and means for aggregation of 2 crore traders under GST will be discussed at length," Khandelwal said.
Acceptance and faster adoption of digital payments among trading community, abolition of bank charges on digital payments, digitalisation of traders and its road blocks, access to easy finance to traders through Banks &amp; other financial institutions and policies for comprehensive financial inclusion of traders will also be discussed, he added. RSN BAL

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India will soon have an ‘ombudsman’ to address consumer complaints about digital payments

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No complaints regarding demonetization and its after effects will be entertained under Banking Ombudsman

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Complaints to banking ombudsman rise 20% in FY'19: RBI

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European privacy watchdogs have 'concerns' about a key new transatlantic data transfer agreement

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Rajnath Singh to inaugurate National Traders Convention on Monday: CAIT

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