How to Complain: SEBI SCORES, SMART ODR, RBI Ombudsman and Bima Bharosa
Last updated: 13 October 2026
Quick answer: First complain in writing to the company. If a broker, mutual fund or listed company does not fix it, file on SEBI SCORES 2.0 (it must reply in 21 days) and then SMART ODR. For banks and NBFCs, go to the RBI Ombudsman after 30 days, within 90 days under the 2026 scheme. For insurers, escalate after 14 days to Bima Bharosa, then the Insurance Ombudsman. All these forums are free.
Last updated: 13 October 2026 Quick answer: First complain in writing to the company. If a broker, mutual fund or listed company does not fix it, file on SEBI SCORES 2.0 (it must reply in 21 days) and then SMART ODR. For banks and NBFCs, go to the RBI Ombudsman after 30 days, within 90 days under the 2026 scheme. For insurers, escalate after 14 days to Bima Bharosa, then the Insurance Ombudsman. All these forums are free. Key takeaways SCORES 2.0: lodge within one year; entity has 21 calendar days; two levels of review. SMART ODR: online conciliation then arbitration; filing here closes a pending SCORES complaint. RBI Ombudsman 2026: in force from 1 July 2026; 90-day filing window; compensation up to ₹30 lakh plus ₹3 lakh. Insurers: must resolve grievances within 14 days; Bima Bharosa is IRDAI's tracking portal. Insurance Ombudsman: approach within one year; award within three months of complete documents. A Pune investor's SIP was debited, but units never arrived. The AMC's helpdesk sent three automated emails over six weeks. What changed things was a single complaint on SEBI SCORES, which routed the issue to the AMC with a 21-day clock and a review by a market body if the reply was weak. The units were allotted with the correct NAV within a fortnight. India's financial regulators run free, online complaint systems with fixed timelines, but each has its own entry rules. This guide shows exactly how to complain through SEBI SCORES 2.0, SMART ODR, the Reserve Bank Integrated Ombudsman Scheme 2026, Bima Bharosa and the Insurance Ombudsman, as of October 2026. Which forum should you complain to? The right forum depends on who regulates the company, not on the product name. A mutual fund bought through a bank is a SEBI matter; a bank FD or a UPI failure is an RBI matter; a health claim rejection is an IRDAI matter. How to complain: which forum handles which financial complaint, SEBI SCORES, RBI Ombudsman or Bima Bharosa Problem First step Escalate to Key timeline Broker, demat, mutual fund, PMS, adviser, listed company Entity's grievance desk SEBI SCORES 2.0, then SMART ODR Entity replies within 21 days Bank, NBFC, wallet, credit bureau Bank or NBFC grievance cell RBI Integrated Ombudsman (cms.rbi.org.in) Wait 30 days; file within 90 days Life, health, motor, home insurance Insurer's grievance officer Bima Bharosa; Insurance Ombudsman Insurer resolves in 14 days; Ombudsman within 1 year Online fraud, fake app, impersonation Call 1930 immediately cybercrime.gov.in and your bank Report within hours for any chance of freezing funds NPS Your Point of Presence or nodal office PFRDA's grievance system (CGMS) As per PFRDA rules Not sure the person you dealt with was registered at all? Check first with our guide on how to verify an ARN, SEBI registration or IRDAI licence (/insights/how-to-verify-arn-sebi-irdai-registration) , because regulators can act only against regulated entities. How to complain on SEBI SCORES 2.0, step by step SCORES (SEBI Complaints Redress System) is SEBI's online grievance platform. Its second version, SCORES 2.0, has been the only way to lodge complaints since 1 April 2024. It routes complaints automatically to the company, copies the relevant "Designated Body" (a stock exchange or depository) and escalates them if deadlines are missed. Write to the entity first. Email the broker, AMC, registrar or company's investor grievance ID with your folio, client ID or DP ID, dates and amounts. Keep the reply or ticket number. Register on scores.sebi.gov.in. Registration uses your PAN and KYC details, which SCORES 2.0 pulls from the KYC Registration Agency database. Lodge within one year of the date the problem occurred. Choose the entity and category, describe the issue and upload evidence such as statements and emails. Entity's Action Taken Report within 21 calendar days. It reaches you automatically. First review. If unhappy, request a review within 15 calendar days. The Designated Body takes it up and must submit a revised report within 10 calendar days. If the entity missed its 21 days, the Designated Body steps in anyway. Second review by SEBI. If still unhappy, ask within 15 days of the first-review report. SEBI decides the timeline and closes the complaint only after it is satisfied. SEBI's toll-free investor helpline is 1800 266 7575 (also 1800 22 7575) if you need help using the portal. Mutual fund problems are a common SCORES category; keep your consolidated account statement (/insights/consolidated-account-statement-cas-guide) ready as evidence. SEBI SCORES 2.0 complaint process: entity 21 days, first review, second review by SEBI, then SMART ODR What SCORES cannot do SCORES does not decide compensation for market losses, investment advice that simply went wrong, or matters already before a court, arbitration or consumer forum. Complaints about unregistered "advisers" usually need police and cybercrime reporting instead. Our guide on investment scams in 2026 (/insights/investment-scams-india-2026) covers that route. What is SMART ODR and when should you use it? SMART ODR (smartodr.in) is the common Online Dispute Resolution portal built by the stock exchanges and depositories under SEBI's ODR master circular of 31 July 2023. It handles money disputes with brokers, depository participants, mutual funds, portfolio managers, advisers and listed companies through online conciliation and, if needed, online arbitration. Precondition: raise the issue with the market participant first. If you are dissatisfied, you can go to SCORES or directly to SMART ODR. One-way door: filing on SMART ODR while a SCORES complaint is pending treats the SCORES complaint as disposed, and an ODR case cannot later be moved to SCORES. Pre-conciliation: the exchange or depository tries to settle the matter amicably within 21 calendar days of filing. Conciliation, then arbitration: a neutral conciliator tries to broker a settlement; if that fails, an online arbitrator gives a binding award. Challenge: an award can be challenged in court under section 34 of the Arbitration and Conciliation Act, 1996. Use SMART ODR when you want money back or a binding decision, for example a wrong trade, unauthorised transactions, delayed payouts or an excess charge. Use SCORES when you mainly want the entity to act, such as processing a transmission or updating records. How to complain to the RBI Ombudsman under the 2026 scheme The Reserve Bank Integrated Ombudsman Scheme, 2026 (RB-IOS 2026) replaced the 2021 scheme from 1 July 2026. It keeps the "one nation, one ombudsman" model and covers banks, eligible NBFCs, payment system participants such as wallets, and credit information companies. Complaints filed under the 2021 scheme continue under the old rules. Complain to the bank or NBFC in writing and note the complaint number. Wait for the reply. You can go to the Ombudsman if the complaint is rejected, if you are unhappy with the reply, or if there is no reply in 30 days (longer periods apply for some card and payment disputes under RBI or network rules). File within 90 days. The 2026 scheme cut the window from one year to 90 days, counted from the later of the end of the 30-day reply period or the last communication. File online at cms.rbi.org.in , by email to crpc@rbi.org.in, or by post to the Centralised Receipt and Processing Centre, RBI, Sector 17, Chandigarh 160017. There is no fee. Outcome. The Ombudsman can facilitate a settlement or pass an award directing rectification and compensation. Appeal. Either side can appeal to the Appellate Authority within 30 days. There is no cap on the amount in dispute, but compensation for consequential loss is capped at ₹30 lakh (up from ₹20 lakh), plus up to ₹3 lakh for loss of time, expenses, harassment and mental anguish (up from ₹1 lakh). The scheme also widens "deficiency in service" to cover all services of a regulated entity. Typical complaints include home loan rate resets not passed on, which our guide on EMI vs tenure after the rate hike (/insights/home-loan-emi-vs-tenure-after-rate-hike) discusses, credit report errors (see our CIBIL guide (/insights/credit-score-cibil-check-improve) ) and failed digital transactions. Complaint deadlines in India: SEBI SCORES 1 year and 21 days, RBI Ombudsman 30 and 90 days, insurer 14 days How to complain against an insurance company: Bima Bharosa and the Ombudsman Under IRDAI's policyholder protection regulations of 2024, insurers must acknowledge a grievance at once and resolve it within 14 days. Every insurer must have a grievance redressal officer, whose details appear on its website and policy documents. Bima Bharosa: IRDAI's complaint portal Bima Bharosa (bimabharosa.irdai.gov.in) is IRDAI's integrated grievance management system. If the insurer does not respond in 14 days, or you are unhappy with the reply, register the complaint there, call the IRDAI toll-free numbers 155255 or 1800-4254-732, or email complaints@irdai.gov.in. Emails and letters are also logged on the portal, so you get one reference number to track. Bima Bharosa pushes the insurer to act, but it does not pass binding awards on claim amounts. Insurance Ombudsman: for disputes over claims and policies The Insurance Ombudsman is a free, quasi-judicial forum under the Insurance Ombudsman Rules, 2017. It hears complaints about claim rejections, delays, premium disputes, policy terms and mis-selling. There are 18 offices; the Pune office covers Maharashtra (except Mumbai, Thane, Navi Mumbai, Raigad and Palghar, which fall under Mumbai) and Goa. Precondition: a written complaint to the insurer that was rejected, answered unsatisfactorily, or not answered within a month. Time limit: within one year of the insurer's reply; delays may be condoned for good reason. How: online at cioins.co.in, by email, post or in person. Outcome: mediation if both agree; otherwise an award within three months of receiving all documents, which the insurer must honour within 30 days. Limit: the Ombudsman's award has a monetary ceiling; check the current limit on cioins.co.in before filing a large claim. For health claims specifically, our guide on cashless and reimbursement claims (/insights/health-insurance-claim-cashless-reimbursement) lists the documents insurers most often say are missing. Mis-sold endowment or ULIP policies are covered in our mis-selling red flags (/insights/mis-selling-red-flags-insurance-investments) guide. Steps to complain about an insurance company: insurer, Bima Bharosa, Insurance Ombudsman How to write a complaint that gets resolved One issue per complaint, stated in the first line: what happened, when, how much. Identifiers: PAN, folio, client ID, policy or account number, transaction IDs. Evidence: statements, emails, screenshots and the entity's reply, as PDFs. Specific remedy: "allot units at the NAV of 5 August", "refund ₹18,400 with interest", "reprocess the claim". Calendar the deadlines: 21 days for SEBI entities, 30 and 90 days for RBI, 14 days and one year for insurance. Stay polite and factual. Reviewers read hundreds of complaints; clarity wins. If the forums do not resolve it, a consumer commission (online through e-Daakhil) or a civil court remains open, subject to their own limitation periods. Taking a case there usually closes the regulator complaint, so decide the route before you file. Related reading How to verify an ARN, SEBI registration or IRDAI licence (/insights/how-to-verify-arn-sebi-irdai-registration) Investment scams in 2026 and how to report them (/insights/investment-scams-india-2026) Mis-selling red flags in insurance and investments (/insights/mis-selling-red-flags-insurance-investments) How to file a cashless or reimbursement health claim (/insights/health-insurance-claim-cashless-reimbursement) Tracing unclaimed mutual fund money with MITRA (/insights/unclaimed-mutual-fund-money-mitra) Frequently Asked Questions How do I file a complaint on SEBI SCORES? First write to the company and keep its reply. Then register on scores.sebi.gov.in with your PAN and KYC details, choose the entity and complaint category, describe the problem and upload evidence. File within one year of the cause of action. The entity must reply within 21 calendar days, after which you can seek two levels of review. Can I use SCORES and SMART ODR at the same time? No. If you file on SMART ODR while a SCORES complaint is pending, the SCORES complaint is treated as disposed of, and a dispute filed on SMART ODR cannot later be moved to SCORES. Use SCORES when you want the entity to act, and SMART ODR when you want a binding decision on money owed. What changed in the RBI Ombudsman Scheme 2026? The Reserve Bank Integrated Ombudsman Scheme 2026 took effect on 1 July 2026. The filing window is now 90 days instead of one year, compensation for consequential loss is up to ₹30 lakh (from ₹20 lakh) and for harassment up to ₹3 lakh (from ₹1 lakh). "Deficiency in service" now covers all services of a regulated entity. How long should I wait before going to the RBI Ombudsman? Normally 30 days after your written complaint to the bank or NBFC, unless it rejects the complaint or replies unsatisfactorily earlier. Some categories, such as card chargebacks or certain digital transaction disputes, have longer resolution periods under RBI, NPCI or card network rules, and the Ombudsman follows those. What is Bima Bharosa? Bima Bharosa is IRDAI's online grievance management system at bimabharosa.irdai.gov.in. If your insurer does not resolve your complaint in 14 days, register it there, or call 155255 or 1800-4254-732, or email complaints@irdai.gov.in. It tracks and escalates complaints with the insurer but does not issue binding awards. When can I approach the Insurance Ombudsman? After you have complained to the insurer in writing and it rejected the complaint, replied unsatisfactorily or did not reply within a month. You must file within one year of the insurer's reply. The service is free, and the award, passed within three months of complete documents, binds the insurer. Can I complain about a mutual fund distributor? Yes. Write to the AMC whose scheme was sold, since AMCs are responsible for their distributors, and file on SEBI SCORES if unresolved. AMCs also report mis-selling to AMFI, which publishes a list of distributors against whom such cases were reported. Sources: SCORES 2.0 process flow (https://web.indiainfoline.com/assets/pdf/SCORES_2_Process_Flow.pdf) ; SEBI launches SCORES 2.0 (https://lexplosion.in/sebi-launches-scores-2-0-to-strengthen-investor-complaint-redress-mechanism-through-auto-routing-auto-escalation-monitoring-by-designated-bodies-reduction-in-timeline-etc/) ; NSE on Online Dispute Resolution (https://www.nseindia.com/static/complaints/online-dispute-resolution) ; Salient features of RB-IOS 2026 (https://www.canarabank.bank.in/documents/d/guest/salient-features-of-the-scheme-2026) ; Vinod Kothari on RB-IOS 2026 changes (https://vinodkothari.com/2026/01/rbi-integrated-ombudsman-scheme-2026-key-changes/) ; Outlook Money on RB-IOS 2026 (https://www.outlookmoney.com/banking/rbi-integrated-ombudsman-scheme-takes-effect-from-july-1-expands-customer-complaint-redressal) ; Finance Ministry guidance on insurance complaints (Aug 2026) (https://upstox.com/news/personal-finance/insurance/freedom-from-unfair-insurance-claim-rejections-finance-ministry-explains-how-to-file-complaints/article-198692/) ; Insurance Ombudsman process (https://joinditto.in/articles/general/insurance-ombudsman/) . Stuck with an unresolved claim, folio or bank complaint? Knowing which forum to use, and what evidence to attach, often decides the outcome. Talk to Money n Wealth (/contact) for help and a free portfolio review. This article is for general educational purposes only and does not constitute financial advice. Figures and examples are illustrative. Please consult a qualified financial adviser for guidance specific to your situation. Money n Wealth (Predics Fintech Services Pvt Ltd) is an AMFI-registered Mutual Fund Distributor (ARN-121995) and APMI-registered PMS Distributor (APRN07444); it is not a SEBI-registered investment adviser and may earn distribution commission on investments made through it. Insurance is the subject matter of solicitation.
Frequently Asked Questions
How do I file a complaint on SEBI SCORES?
First write to the company and keep its reply. Then register on scores.sebi.gov.in with your PAN and KYC details, choose the entity and complaint category, describe the problem and upload evidence. File within one year of the cause of action. The entity must reply within 21 calendar days, after which you can seek two levels of review.
Can I use SCORES and SMART ODR at the same time?
No. If you file on SMART ODR while a SCORES complaint is pending, the SCORES complaint is treated as disposed of, and a dispute filed on SMART ODR cannot later be moved to SCORES. Use SCORES when you want the entity to act, and SMART ODR when you want a binding decision on money owed.
What changed in the RBI Ombudsman Scheme 2026?
The Reserve Bank Integrated Ombudsman Scheme 2026 took effect on 1 July 2026. The filing window is now 90 days instead of one year, compensation for consequential loss is up to ₹30 lakh (from ₹20 lakh) and for harassment up to ₹3 lakh (from ₹1 lakh). "Deficiency in service" now covers all services of a regulated entity.
How long should I wait before going to the RBI Ombudsman?
Normally 30 days after your written complaint to the bank or NBFC, unless it rejects the complaint or replies unsatisfactorily earlier. Some categories, such as card chargebacks or certain digital transaction disputes, have longer resolution periods under RBI, NPCI or card network rules, and the Ombudsman follows those.
What is Bima Bharosa?
Bima Bharosa is IRDAI's online grievance management system at bimabharosa.irdai.gov.in. If your insurer does not resolve your complaint in 14 days, register it there, or call 155255 or 1800-4254-732, or email complaints@irdai.gov.in. It tracks and escalates complaints with the insurer but does not issue binding awards.
When can I approach the Insurance Ombudsman?
After you have complained to the insurer in writing and it rejected the complaint, replied unsatisfactorily or did not reply within a month. You must file within one year of the insurer's reply. The service is free, and the award, passed within three months of complete documents, binds the insurer.
Can I complain about a mutual fund distributor?
Yes. Write to the AMC whose scheme was sold, since AMCs are responsible for their distributors, and file on SEBI SCORES if unresolved. AMCs also report mis-selling to AMFI, which publishes a list of distributors against whom such cases were reported.
Stuck with an unresolved claim, folio or bank complaint?
Knowing which forum to use, and what evidence to attach, often decides the outcome. Talk to Money n Wealth for help and a free portfolio review.