RBI has withdrawn its earlier circular dated 27th January 2021 on Strengthening of Grievance Redress Mechanism in Banks. The review follows regulatory and supervisory developments, including consolidation of complaint related disclosure requirements under the Master Direction on Financial Statements- Presentation and Disclosures 2025. Also, the consumer compensation framework has been strengthened under the Reserve Bank–Integrated Ombudsman Scheme 2026, with enhanced compensation limits, and the Internal Ombudsman Directions 2026 now empower Internal Ombudsmen to recommend compensation awards. The banks remain obligated to maintain and continuously strengthen effective grievance redress systems in accordance with regulatory instructions and Board approved policies.