Section 3 — Definitions

(1) In the Scheme, unless the context otherwise requires:

(a) “Appellate Authority” means the Executive Director in-Charge of Consumer Education and Protection Department of the Reserve Bank;

(b) “Appellate Authority Secretariat” means Consumer Education and Protection Department of the Reserve Bank which is administering the Scheme;

(c) “Authorised Representative” means a person, other than an advocate, duly appointed and authorised in writing to represent the Complainant in the proceedings before the RBI Ombudsman;

(d) “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;

(e) “bank” means a ‘banking company’, a ‘corresponding new bank’, a ‘Regional Rural Bank’, ‘State Bank of India’ as defined in the Banking Regulation Act, 1949, a ‘co-operative bank’ as defined in Section 56 (c) of the Banking Regulation Act, 1949 to the extent included under the Scheme but does not include a bank in resolution or winding up or under All-Inclusive Directions;

(f) “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;

(g) “Credit Information Company” means a company as defined in the Companies Act, 2013 (18 of 2013) and has been granted a certificate of registration under sub-section (2) of section 5 of the Credit Information Companies (Regulation) Act, 2005 (30 of 2005);

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

(i) “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;

(j) “Non-Banking Financial Company” (NBFC) means an NBFC as defined in Section 45-I (f) of the Reserve Bank of India Act, 1934 and registered with the Reserve Bank, to the extent included under the Scheme but does not include, an NBFC in resolution or winding up/liquidation, or under Directions of Reserve Bank of India;

(k) “Non- bank Prepaid Payment Instruments Issuer” means a company, as defined in the Companies Act, 2013 (18 of 2013), which has been granted a Certificate of Authorisation by the Reserve Bank of India under Section 7(1) of the Payment and Settlement Systems Act, 2007 (51 of 2007) to operate as a Prepaid Payment Instrument Issuer;

(l) “RBI Deputy Ombudsman” means a person appointed by the Reserve Bank as such under Clause 4 of the Scheme;

(m) “RBI Ombudsman” means a person appointed by the Reserve Bank as such under Clause 4 of the Scheme;

(n) “Regulated Entity” means a bank or a Non-Banking Financial Company, or a Non- bank Prepaid Payment Instruments Issuer or a Credit Information Company as defined in the Scheme, or any other entity as may be specified by the Reserve Bank from time to time, to the extent not excluded under the Scheme;

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

(p) “Settlement” means an outcome of the processes under clause 14 of the Scheme;

(q) “The Reserve Bank” means Reserve Bank of India constituted under Section 3 of the Reserve Bank of India Act, 1934.

(2) Words and expressions used and not defined in the Scheme, but defined in the Reserve Bank of India Act, 1934, or in the Banking Regulation Act, 1949, or in the Payment and Settlement Systems Act, 2007 or in the Credit Information Companies (Regulation) Act, 2005 or the Regulations or guidelines or Directions issued by the Reserve Bank in exercise of its powers conferred by the Acts referred to herein above, shall have the meanings respectively assigned to them.