If you are facing issues with your financial services provider including those related to KYC norms, ATM or digital frauds, you can now approach them through the new website launched by the Reserve Bank of India – sachet.rbi.org.in. In fact, the facility is not limited to banking sector but can be accessed to redress grievance against other financial entities such as insurance companies, brokers or pension fund managers.
Addressing a press conference at the 3rd Monetary Policy Review of FY 17 on Tuesday, RBI Governor Raghuram Rajan said that the newly launched website could be accessed if other redress mechanism is not yielding desired regulator. “We have launched a special website to address consumer grievances where complaints lodged will be taken up by concerned regulator and the enforcement agencies,” Rajan said. The Sachet website was launched on August 4.
However, Rajan said that consumers should first attempt to redress their grievances initially through the financial service provider themselves, and if not satisfied approach the concerned Ombudsman. If that too does not prove effective, the consumer can register on the new website where a complaint number will be issues and the action of complaint can be tracked.
So what does Sachet.rbi.org.in provide?
The new website is aimed at gathering information regarding unauthorised acceptance of deposits/money through different schemes by any entity. The information provided here would be immediately shared with the concerned regulator and law enforcement authority who would initiate necessary action as per their procedures and processes.
In case you are being cheated by a company you can register your complain by registering on the site. You can choose your regulator be it, RBI, Securities and Exchange Board of India, Pension Fund Regulatory and Development Authority, Insurance Regulatory and Development Authority or the National Housing Bank.
After your complaint is forwarded to the concerned authority, you would receive their contact details on email or through SMS. You can track the complaint after this through your complaint number, mobile number or email id . However, there is no time limit to redress your complaint.