Ombudsman Scheme for Digital Transactions (OSDT) explained
The Ombudsman Scheme for Digital Transactions (OSDT) is introduced by RBI, with effect from January 31, 2019, under Section 18 of the Payment and Settlement Systems Act, 2007. The scheme provides a cost-free and expeditious complaint redressal mechanism relating to deficiency in customer services in digital transactions conducted through non-banking ‘System Participant’. The ‘system Participant’…