The Reserve Bank of India on Friday announced that a 24×7 helpline would be set up for digital payment services. The service is scheduled to be launched by September and is aimed at strengthening the digital payment services and transactions landscape of India. 

“With enhanced penetration and efficiency of digital payments, major payment system operators would be required to facilitate setting-up of a centralised industry-wide 24×7 helpline for addressing customer queries in respect of various digital payment products and give information on available grievance redress mechanisms. Going forward, the facility of redress of customer grievances through the helpline shall be considered. This is envisaged to enhance consumer trust and confidence in the digit.” said Shaktikanta Das, the Governor of RBI. 

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The helpline is also aimed at reducing the expenditure attributed towards the grievance redressal and human resources for accomodating these requests.

Here are the details: 

*The payment operators would be required to facilitate the setting up a centralised, industrywide 24×7 helpline to address all queries related to online transactions and payments.

*They will also be required to announce their plans of grievance redressal by September 2021. 

As per the statement, “The Payment Systems Vision document of RBI envisages setting up a 24×7 helpline for addressing customer queries in respect of various digital payment products. The helpline will, in addition to building trust and confidence, also reduce expenditure on both financial and human resources, otherwise incurred for addressing queries and grievances.”

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*Guidelines for outsourcing the operators and participants of the authorised payment system is also to be released soon as per the statement. 

Further, the central bank also announced the roll-out of the Integrated Ombudsman Scheme for banks, NBFCs and digital transactions by June 2021. The aim is to simplify the process of redress of grievances and make it easier.