Lok Sabha Question No. 2855 (UNSTARRED), answered on 2018-12-28
Subject: Ombudsman for Digital Transactions
Ministry: FINANCE
Asked by: (ADV.) JOICE GEORGE

## GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF FINANCIAL SERVICES

## LOK SABHA

## UNSTARRED QUESTION NO. 2855

TO BE ANSWERED ON THE 28 th  December, 2018 / PAUSHA 7, 1940 (SAKA)

## Ombudsman for Digital Transactions

## 2855.    ADV. JOICE GEORGE

Will the Minister of FINANCE be pleased to state:

- (a) whether the Government is planning to introduce Ombudsman Scheme for Digital Transactions to provide cost-free mechanism to redress grievances of customers related to digital transactions and if so, the details thereof;
- (b) whether  it will cover services provided by entities falling under regulatory jurisdiction of the Reserve Bank of India and if so, the details thereof; and
- (c) whether the scheme is being implemented taking into consideration rise in digital mode for financial transactions which is gaining traction in the country and if so, the details   thereof ?

## ANSWER

## MINISTER OF STATE IN THE MINISTRY OF FINANCE (SHRI SHIV PRATAP SHUKLA)

- (a)  to  (c): As  per  Reserve  Bank  of  India  (RBI),  the  digital  mode  for  financial transactions  is  gaining  momentum.  Accordingly,  in  the  Monetary  Policy  Statement  of December  2018  Reserve  Bank  of  India  has  announced  that  it  has  been  decided  to implement an 'Ombudsman  Scheme  for  Digital Transactions' covering services provided by all entities falling under Reserve Bank's regulatory jurisdiction.

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## GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF FINANCIAL SERVICES LOK SABHA

## UN-STARRED QUESTION NO. 2855 TO BE ANSWERED ON 28 th  DECEMBER, 2018 / PAUSHA 7, 1940 (SAKA)

## 'Ombudsman for Digital Transactions'

| Question 2855. ADV. JOICE GEORGE                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | Answer THE MINISTER OF STATE IN THE MINISTRY OF FINANCE (SHRI SHIV PRATAP SHUKLA)                                                                                                                                                                                                                                                                                                                         |
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| Will the Minister of FINANCE be pleased to state : (a) whether the Government is planning to introduce Ombudsman Scheme for Digital Transactions to provide cost-free mechanism to redress grievances of customers related to digital transactions and if so, the details thereof; (b) whether it will cover services provided by entities falling under regulatory jurisdiction of the Reserve Bank of India and if so, the details thereof; and (c) whether the scheme is being implemented taking into consideration rise in digital mode for financial transactions which is gaining traction in the country and if so, the details | (a) to (c): As per Reserve Bank of India (RBI), the digital mode for financial transactions is gaining momentum. Accordingly, in the Monetary Policy Statement of December 2018 Reserve Bank of India has announced that it has been decided to implement an 'Ombudsman Scheme for Digital Transactions' covering services provided by all entities falling under Reserve Bank's regulatory jurisdiction. |

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