Financial Literacy: RBI Ombudsman Partners Bajaj Finance & Bajaj Auto to create awareness on RBIOS, Fraud and Financial Literacy

Chhatrapati Sambhajinagar, October 26th - The Office of the Reserve Bank of India Ombudsman Mumbai, in partnership with Bajaj Finance and Bajaj Auto Ltd, successfully organised an extensive awareness program on the Reserve Bank Integrated Ombudsman Scheme (RBIOS), Fraud Awareness, and Financial Literacy on October 19th and 20th, 2023 at the Bajaj Auto plant premises in Waluj (Aurangabad).
The program was graced by the presence of Mr. H S Verma, Deputy RBIO Mumbai II, Mr. Aniruddha Mallick, AGM RBIO Mumbai II, and Mr. Akash Kabra, AM RBIO Mumbai II, along with Mr. Rinku Anand, Principal Nodal Officer, and his dedicated team. In addition, numerous staff members from the State Bank of India (SBI) and approximately 300 enthusiastic participants actively participated in this learning initiative.
Mr. Verma emphasised the success of the RBIOS as an indispensable resource for the common man. He elucidated the simple and cost-free procedure for filing complaints under the scheme, which can be conveniently done online at cms.rbi.org.in
The RBI Integrated Ombudsman Scheme (RBIOS) serves as a free, swift, impartial, and efficient mechanism to address issues that banks or other regulated companies fail to resolve within 30 days of receiving a complaint. Mr. Verma urged participants to remain vigilant by monitoring their account activities through SMS and promptly reporting unauthorized transactions to their respective banks.
He also stressed upon the importance of safeguarding personal information, such as the CVV number on credit cards, to prevent potential losses if the card is lost or compromised. Mr. Verma warned against sharing sensitive data like bank account numbers, debit card details, identification (ID), Personal Identification Number (PIN), or One-Time Password (OTP) with anyone, particularly fraudsters who may request this information over the phone. Furthermore, he advised recipients of SMS or email notifications about lottery winnings or draws not to send any money.
Participants were also encouraged to lodge complaints related to digital wallets, prepaid payment instruments, mobile banking, and electronic banking, including cases of non-credit to merchants, refunds for failed/unsuccessful/unauthorized transactions, and more, through the RBIOS online portal.
Representatives from Bajaj Finance, including Mr. Rinku Anand, Mr. Ankur Arora, and Ms. Megha More, addressed the participants, sharing valuable insights and information. Mr. Mallick and Mr. Kabra urged all attendees to exercise caution when using online banking and ATMs, advising against sharing PINs or OTPs with anyone. They also highlighted that individuals can inquire about the status of their complaints or raise concerns by contacting the Reserve Bank Ombudsman on the toll-free number 14448.
The collaboration between the Reserve Bank of India Ombudsman Mumbai, Bajaj Finance, and Bajaj Auto Ltd underscores their commitment to enhancing public awareness, financial literacy, and fraud prevention. The event served as an important step in empowering individuals to protect their financial interests and seek prompt resolution to any issues they encounter within the banking and financial sector.

Marathon Nagari
Flat no. 404, Atulay B-wing
Shrigaon Badlapur East

Bajaj Finance Ltd. ('BFL', 'Bajaj Finance', or 'the Company'), a subsidiary of Bajaj Finserv Ltd., is a deposit-taking Non-Banking Financial Company (NBFC-D) registered with the Reserve Bank of India (RBI) and is classified as an NBFC-Investment and Credit Company (NBFC-ICC). BFL is engaged in the business of lending and acceptance of deposits. It has a diversified lending portfolio across retail, SMEs, and commercial customers with a significant presence in both urban and rural India. It accepts public and corporate deposits and offers a variety of financial services products to its customers. BFL, a thirty-six-year-old enterprise, has now become a leading player in the NBFC sector in India and on a consolidated basis, it has a franchise of 72.98 million customers. BFL has the highest domestic credit rating of AAA/Stable for long-term borrowing, A1+ for short-term borrowing, and CRISIL AAA/Stable & [ICRA]AAA(Stable) for its FD program. It has a long-term issuer credit rating of BBB-/Stable a and a short-term rating of A-3 by S&P Global ratings. To know more, visit www.bajajfinserv.in/ 

This release was published on openPR.