RBI Renames Ombudsman Scheme to Comply with Lokpal and Lokayuktas Act, 2013
| Summary/Static | Details |
|---|---|
| Why in the news? | RBI renamed its Ombudsman Scheme in Hindi to comply with the Lokpal and Lokayuktas Act, 2013. |
| Law Involved | Lokpal and Lokayuktas Act, 2013 |
| Purpose of the Act | Establish Lokpal (Union) & Lokayuktas (States) for corruption investigations |
| Effective Date of Act | January 16, 2024 |
| RBI Scheme | Reserve Bank-Integrated Ombudsman Scheme (RB-IOS), 2021 |
| Issue with RBI Scheme | Incorrect Hindi translation using "लोकपाल", conflicting with the 2013 Act |
| Corrective Action | RBI renamed the scheme in Hindi as "रिज़र्वबैंक-एकीकृत ओम्बड्समैन योजना, 2021" |
| Reason for Change | Legal compliance & avoiding misinterpretation |