The Reserve Bank on Wednesday issued guidelines for the appointment and functioning of internal ombudsman in banks and NBFCs with an aim to strengthen the mechanism for resolution of customer grievances within regulated entities. The Reserve Bank of India (RBI) has issued separate directions for commercial banks, small finance banks, payments banks, non-banking financial companies, non-bank prepaid payment instrument issuers, and credit information companies. The directions, the RBI said, have been issued with a view to strengthen the internal grievance redress mechanism within regulated entities and ensure a speedy and meaningful resolution of customer complaints by enabling a review by an apex-level authority within the entities.