Where your complaint goes: Insurance vs RBI Ombudsman

Two free, official ombudsman schemes exist — and getting the right one matters. Here's the rule.

If a complaint isn't resolved by the company, two free official ombudsman schemes can help — but they cover different things, and going to the wrong one wastes time.

The rule in one line

A grievance against an IRDAI-regulated insurer or intermediary about a policy or claim goes to the Insurance Ombudsman. A grievance against an RBI-regulated bank, NBFC, wallet or credit bureau goes to the RBI Ombudsman. The two schemes are mutually exclusive — insurance is expressly outside the RBI scheme.

Insurance Ombudsman (Bima Lokpal)

Free and binding on the insurer, with a maximum compensation of ₹50 lakh (raised from ₹30 lakh, notified 10 November 2023 — many sources still wrongly cite ₹30 lakh). There are 17 offices. First complain to the insurer in writing; escalate if it's rejected, unsatisfactory, or unanswered for 30 days; file within 1 year. Portal: cioins.co.in. (This is distinct from IRDAI's Bima Bharosa grievance portal.)

RBI Integrated Ombudsman (RB-IOS)

Covers RBI-regulated entities — banks, NBFCs, wallets and credit bureaus — and does NOT cover insurance. It can award up to ₹30 lakh for consequential loss plus ₹3 lakh for lost time, expenses and harassment (RB-IOS 2026, in force 1 July 2026, replacing the 2021 scheme — confirm the current limits at cms.rbi.org.in). First complain to the entity; escalate after 30 days. Portal: cms.rbi.org.in; toll-free 14448.

One tricky case: bank-sold insurance

If a bank sold you the policy (bancassurance) but the dispute is about the insurance claim itself, it still goes to the Insurance Ombudsman — because the grievance concerns the policy, not a banking service.

Source: Insurance Ombudsman Rules 2017 (₹50 lakh cap, 10 Nov 2023 amendment); Reserve Bank – Integrated Ombudsman Scheme 2026 (in force 1 July 2026). General guidance — confirm the latest at cioins.co.in / cms.rbi.org.in.

Insurance Ombudsman Rules 2017 (award cap raised to ₹50 lakh, notified 10 Nov 2023); Reserve Bank – Integrated Ombudsman Scheme (RB-IOS) 2026 · 2026-07-04