Section 7 in The Ombudsman Scheme for Non-Banking Financial Companies, 2018
7. Powers and Jurisdiction.
(1)The Reserve Bank shall specify the territorial limits to which the authority of each Ombudsman appointed under Clause 4 of the Scheme shall extend.(2)The Ombudsman shall receive and consider complaints relating to the deficiencies in services filed on any one or more of the grounds mentioned in Clause 8 and facilitate their satisfaction or settlement by agreement or through conciliation and mediation between the non-banking financial company concerned and the aggrieved party or by passing an Award in accordance with the provisions of the Scheme.(3)The Ombudsman shall exercise general powers of superintendence and control over his Office and shall be responsible for the conduct of business there-at.(4)The Office of the Ombudsman shall draw up an annual budget for itself in consultation with Reserve Bank and shall exercise the powers of expenditure within the approved budget on the lines of Expenditure Rules framed by the Reserve Bank of India from time to time.(5)The Ombudsman shall send to the Governor, Reserve Bank a report, as on 30th June every year, containing a general review of the activities of his Office during the preceding financial year and shall furnish such other information as the Reserve Bank may direct.(6)Reserve Bank may, if it considers necessary in the public interest so to do, publish the report and the information received from the Ombudsman in such consolidated form or otherwise as it deems fit.
