Ombudsman Scheme

Last updated on: 21st May 2026

Introduction

Si Creva Capital Services Private Limited is a private limited company incorporated under the provisions of the Companies Act 2013 having Corporate Identification Number (CIN) U65923MH2015PTC266425 (“Si Creva”/ “Company”). Si Creva is a Middle Layer Non-Deposit taking Non-Banking Financial Company registered and regulated by the Reserve Bank of India (“RBI”) as a Non-Banking Finance Company (“NBFC”) bearing Registration no. N-13.02129.

Si Creva Capital Services Private Limited is in the business of provision of secured and unsecured business and personal loans via partnerships with Kissht and PayWithRing apps provided by OnEMI Technology Solutions Private Limited.

The RBI in the interest of the customers of the entities regulated by it has integrated the existing three Ombudsman schemes of RBI namely (i) the Banking Ombudsman Scheme 2006; (ii) the Ombudsman Scheme for Non-Banking Financial Companies 2018; and (iii) the Ombudsman Scheme for Digital Transactions 2019 into the Reserve Bank - Integrated Ombudsman Scheme 2026(‘the Scheme”) which provides cost free simpler and more customers responsive alternate dispute redress mechanism.

This document contains a general guideline of the operational aspects of the Scheme. For more details the stakeholders shall refer to the Integrated Ombudsman Scheme 2026 (‘the Scheme”) : https://rbidocs.rbi.org.in/rdocs/content/pdfs/SCHEME16012026_A.pdf

Definitions:

“Authorized Representative” means a person other than an advocate (unless the advocate is the aggrieved person) duly appointed and authorized in writing to represent the complainant in the proceedings before the RBI Ombudsman.

“Award” means the direction issued under clause 15 of the Scheme by the RBI Ombudsman to the Regulated Entity for specific performance of its obligations within the time limit prescribed;

“Complaint” means a representation in writing alleging a deficiency in service on the part of a Regulated Entity submitted by its customer or his/her authorised representative and seeking relief under the provisions of the Scheme;.

“Customer” means a person who uses or is an applicant for a service provided by a Regulated Entity;

“Deficiency in service” means a shortcoming or an inadequacy in any service which the Regulated Entity is required to provide statutorily or otherwise which may or may not result in financial loss or damage to the customer;

“Rejected Complaints” means complaints that are closed under the provisions as specified in clause 16 of the Scheme.

“Settlement” means an outcome of the processes under clause 14 of the Scheme.

Salient Features of the Reserve Bank – Integrated Ombudsman Scheme 2026 is as follows:

• Grounds for filing a complaint by a Customer under the Scheme

  Any customer aggrieved by an act or omission of the Company resulting in deficiency in service may file a complaint under the Scheme personally or through an authorized representative.

• Grounds for maintainability of a Complaint

  • A complaint under the Scheme shall be maintainable only if the following conditions are satisfied:

    • the complaint is addressed to the RBI Ombudsman directly. However it does not include a communication in which the RBI is merely endorsed/marked in copy (whether by e-mail or in physical form); and
    • the complaint is lodged by the Complainant personally or through an authorised representative other than an advocate unless the advocate is the aggrieved person; and
    • the Complainant provides complete information as specified in clause 11 of the Scheme; and
    • the complaint is not abusive or frivolous or vexatious in nature; and
    • the Complainant had first made a complaint in writing or through any other mode to the Company where proof of having made a complaint can be produced by the Complainant before making a complaint under the Scheme; and
    • the Complainant has not received any reply within 30 days or within the time specified by the RBI National Payments Corporation of India or under Card Network guidelines if any whichever is higher after the Company received the complaint; or the Complainant is not satisfied with the reply / resolution provided by the Company; and
    • the complaint is made to the RBI Ombudsman within 90 days from the date on which the timeline specified in sub-clause (1)(f) expires or the date of the last communication from the Company whichever is later; and
    • the complaint is not relating to the same grievance which is already pending before the Office of the RBI Ombudsman whether or not received from the same Complainant or along with one or more Complainants; or
    • the complaint is not relating to the same grievance which is already settled or dealt with on merits by the Office of the RBI Ombudsman whether or not received from the same Complainant or along with one or more Complainants; and
    • the complaint is not relating to the same grievance which is already pending before any Court Tribunal or Arbitrator or any other judicial or quasi-judicial forum whether or not received from the same Complainant or along with one or more of the Complainants; or
    • the complaint is not relating to the same grievance which is already settled or dealt with on merits by any Court Tribunal or Arbitrator or any other judicial or quasi-judicial forum whether or not received from the same Complainant or along with one or more of the Complainants; and

    • the complaint to the Company was made before the expiry of the period of limitation prescribed under the Limitation Act 1963 for such claims.

      Explanation 1: For the purposes of sub-clause (1)(j) and (1)(k) mentioned above a complaint relating to the same grievance does not include criminal proceedings pending or decided before a Court or Tribunal or any police investigation initiated in a criminal offence.

  • The complaints involving the following matters are excluded from the purview of the Scheme:

    • matters related to commercial judgment or decision of the Company;
    • a dispute between a vendor and the Company;
    • grievances against Management or Executives of the Company;
    • a grievance arising from an action of the Company in compliance with the orders of a judicial/quasi-judicial or statutory or law enforcing authority;
    • a service not within the regulatory purview of the RBI;
    • a dispute between Regulated Entities;
    • a dispute involving the employee-employer relationship of the Company;
    • a grievance for which a remedy has been provided in Section 18 of the Credit Information Companies (Regulation) Act 2005; and
    • a grievance pertaining to customers of the Company not included under the Scheme.
  • Complaints not meeting the eligibility conditions as specified under sub-clause (1) and complaints that are mentioned in sub-clause (2) shall be rejected at the outset as non-maintainable without further examination with appropriate communication to the Complainant.

• Procedure for Filing a Complaint

  • The complaint may be lodged online through the portal https://cms.rbi.org.in.
  • The complaint may also be submitted through e-mail to crpc@rbi.org.in or physical mode to the Centralised Receipt and Processing Centre as notified by the RBI. The complaint if submitted in physical form shall be duly signed by the Complainant or by the authorised representative. The complaint submitted in electronic or physical mode shall be in such format as specified in Annex – II of the Scheme.

How does the Ombudsman take decisions in accordance with the scheme?

• Initial Scrutiny of Complaints shall be done by the Ombudsman
• If required additional information shall be called by the ombudsman
• The proceedings before Ombudsman are summary in nature and shall not be bound by any rules of evidence.
• The Ombudsman will promote the settlement of the complaint by mutual agreement between the complainant and Si Creva through conciliation or mediation.
• If the above is not reached then the Ombudsman can pass an Award/Order either allowing or rejecting the complaint along with reasons for passing such an Award/Order.
• If a customer is not satisfied with the decision of the Ombudsman he/she can file an appeal before the Executive Director- in charge of the Consumer Education and Protection Department of the RBI against the Award/Order within 30 (thirty) days of the date of receipt of communication of Award/Order or Rejection of complaint.
• Si Creva may go in for an appeal against the Award within 30 (thirty) days from the date of receipt of the letter of Award except for non-furnishing of documents/information by the Company.
• An 'Award' includes a direction for specific performance by the NBFC concerned. It may or may not include a direction to pay compensation for the loss if any suffered by the complainant. The ombudsman will not have the power to pass an Award directing payment of an amount that is more than the actual loss suffered by the complainant or INR 3000000 (Indian Rupees Thirty Lakhs) whichever is lower. In addition the Ombudsman may also award compensation not exceeding INR 300000 (Indian Rupees Three Lakh) to the complainant taking into account the loss of time expenses incurred harassment and mental anguish suffered by the complainant.

Note:

• The Ombudsman may reject a complaint at any stage.
• The Ombudsman Scheme is an Alternate Dispute Resolution Mechanism.
• The Customer is at liberty to approach any other court/forum/authority for the redressal of their disputes at any stage.

How will the award be implemented?

Si Creva to implement the settlement arrive with the complainant or the Award passed by the Ombudsman when it becomes final and send a report in this regard to the RBI Ombudsman within 15 (fifteen) days of the award becoming final.

Annex - I

The details of the Nodal Officers of Si Creva who can be approached by the customer as per the Reserve Bank – Integrated Ombudsman Scheme 2026 and the details of the RBI Ombudsman are given below:

Name and Contact details of the Nodal Officer of Si Creva to be approached by the customer

If the grievance is not redressed by Nodal Officer within a period of 30 (thirty) days then the Complaints can be filed in the prescribed format (available on the RBI website - https://cms.rbi.org.in) or sent in physical mode to

The ‘Centralised Receipt and Processing Centre

Reserve Bank of India

4th Floor Sector 17

Chandigarh - 160017

RBI Contact Centre – 14448

A copy of the Scheme is available on the RBI website and on the CMS portal (https://cms.rbi.org.in).

Please refer to w ww.rbi.org.in & https://sicrevacapital.com/ for further details of the Scheme.