Policy : 2010-11)
of information in the public interest by the employees of an organisation is
increasingly gaining acceptance by public bodies, for ensuring better
governance standards and probity / transparency in the conduct of affairs of
Bank. As a proactive measure for strengthening financial stability and with a
view to enhancing public confidences in the robustness of the
RBI has formulated a scheme called "Protected Disclosure Scheme for
and Foreign Banks" (the Scheme). Salient features of the scheme are as
The complaints under the Scheme would cover the areas such
as corruption, misuse of office, criminal offences, suspected/actual fraud,
failure to comply with existing rules and regulations such as Reserve Bank of
India Act 1934, Banking Regulation Act 1949 etc., and acts resulting in
financial loss/operational risk, loss of reputation etc. detrimental to
depositors¿ interest/public interest.
Under the Scheme, employees of the bank, customers, stake
holders, NGOs and members of public can lodge complaints.
Anonymous/pseudonymous complaints will not be
the Scheme and such complaints will not be entertained.
RBI will be the Nodal Agency to receive the complaints
under the Scheme. RBI would keep the identity of the complainant
in cases where complaint turns out to be vexatious or frivolous and action has
to be initiated against the complainant as mentioned at Para 5 below:
The bank - against which complaint has been made -
action against complainants, in cases where motivated/vexatious complaints are
made under the scheme, after being advised by the RBI. An opportunity of
hearing will, however, be given by the bank to the complainant before taking
Final action taken by the RBI on the complaint will be
intimated to the complainant.
PROCEDURE FOR LODGING THE COMPLAINT UNDER
The complaint should be sent in a closed / secured
envelope should be addressed to the Chief General Manager, Reserve Bank of
India, Department of Banking Supervision, Fraud Monitoring Cell,
Floor, World Trade Centre, Centre 1, Cuffe Parade, Mumbai - 400 005. The
envelope should be superscribed "Complaint under Protected Disclosures
Scheme for Banks".
complainant should give his/her name and address in the beginning, or end of
the complaint, or in an attached letter. In case of an employee making such
complaint, details such as name, designation, department, place of
should be furnished.
can be made through e-mail also, giving full details as specified above. For
the purpose, a specific e-mail ID firstname.lastname@example.org
has been created.
complainant should ensure that the issue raised by him involves dishonest
intention/moral angle. He should study all the relevant facts and understand
their significance. He should also make an effort, if possible, to
issue through internal channels, in order to avoid making the
text of the complaint should be carefully drafted, so as to not to give any
details, or clue to complainant¿s identity.The details of the complaint should
be specific and verifiable.
order to protect the identity of the complainant, RBI will not issue any
acknowledgement of receipt of the complaint and the complainants are advised
not to enter into any further correspondence with the RBI in their own
interest. RBI assures that, subject to the facts of the case being
it would take necessary action, as provided under the Scheme. If any further
clarification is required, RBI will get in touch with the complainant.
the complaint is accompanied by particulars of the person making the
the RBI shall take the following mentioned overleaf:
If necessary, it would ascertain from the complainant
whether he was the person, who made the complaint or not.
The identity of the complainant will not be
the complainant himself has made the details of the complaint either
disclosed his identity to any other authority.
If the identity of the complainant is concealed, RBI will
make discreet inquiries, to ascertain if there is any basis for proceeding
further with the complaint.
Either as a result of the discreet enquiry, or on
of complaint itself without any inquiry, if RBI is of the opinion that the
matter is required to be investigated further, RBI may consider
calling for the
comments/response from the Managing Director/Chief Executive Officer of the
After obtaining the response of the concerned Bank and/or
on the basis of an independent scrutiny conducted/ordered by RBI, if RBI is of
the opinion that the allegations are substantiated, the RBI will recommend
appropriate action to the concerned bank. These will, inter alia,
include the following:
Appropriate action to be initiated against the concerned
Appropriate administrative steps for recovery of the loss
caused to the bank as a result of the corrupt act, or misuse of office, or any
other offence covered by the Scheme.
Recommend to the appropriate authority for initiation of
criminal proceedings, if warranted by the facts and circumstances of
Recommend taking corrective measures to prevent recurrence
of such events in future.
Consider initiating any other action that it deems fit,
keeping in view of the facts of the case.
any person is aggrieved by any action on the ground that he is victimized due
to filing of the complaint or disclosure, he may file an application
RBI, seeking redressal in the matter. RBI will take such action, as deemed
fit. In case the complainant is an employee of the bank, RBI may give
directions to the concerned bank, preventing initiation of any adverse
action against the complainant.
on the basis of application of the complainant, or on the basis of information
gathered, if the RBI is of the opinion that either the complainant or the
witnesses in the case need protection, the RBI will issue appropriate
directions to the concerned bank.
system evolved herein will be in addition to the existing grievances redressal
mechanism in place. However, secrecy of identity shall be observed, only if
the complaint is received under the Scheme.
case RBI finds that the complaint is motivated or vexatious,RBI will be at
liberty to take appropriate steps.
the event of the identity of the informant being disclosed in spite of RBI
directions to the contrary, the RBI will be authorised to initiate appropriate
action as per extant regulations against the person,or agency making such
disclosure. RBI may also direct such person, or agency, to suitably
Special Committee for Monitoring & Investigation of Large-value Frauds
will oversee and monitor the Scheme implementation, as well as disposal of the
complaints. When a complaint under the scheme is received, Managing Director
will instruct Vigilance Department to deal with complaints as per the
to report to RBI, apart from reporting such cases to the above Committee for
perusal and disposal of the complaint on quarterly basis. It will be ensured
that complaints received as per the Scheme are disposed off normally within 4