Redressal Mechanism Current Affairs - 2020

SAROD ports launched by Shipping Ministry

On September 10, 2020, the Union Minister of Shipping Manusukh Mandaviya launched a dispute redressal mechanism called SAROD Ports. SAROD is Society for Affordable Redressal of Disputes. Highlights Earlier the SAROD Saroj Port was in place where the dispute between port and the concessionaire working with the port was arbitrated. However, decisions were not made Read More…

RBI launches Ombudsman scheme for NBFCs

The Reserve Bank of India (RBI) has launched Ombudsman Scheme for non-banking financial companies (NBFCs) for redressal of complaints against NBFCs registered with RBI under section 45-IA of the RBI Act, 1934. The scheme will provide cost-free and expeditious complaint redressal mechanism relating to deficiency in services by non-banking financial companies covered under the scheme. Read More…