RBI vide notification no. RBI/2020-21/21 dated August 06, 2020 issued advisory to authorised Payment System Operators (PSOs) to put in place system/s for ODR for resolving disputes and grievances of customers.
To begin with, authorised PSOs shall be required to implement an ODR system for disputes and grievances related to failed transactions in their respective payment systems by January 1, 2021. The PSOs shall provide access to such a system to its participating members i.e., Payment System Participants (PSPs).
Any entity setting up a payment system in India thereafter or participating therein, shall make available the ODR system at the commencement of its operations.
Later, ODR arrangement would be extended to cover disputes and grievances other than those related to failed transactions. The minimum requirements of the ODR system are specified in the annexure to the notification which can be accessed through the following link.
https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=11946&Mode=0