Amendment status not verified — confirm the current text below against the official source.
Insertion of new sections 15 A and 15 B.- After section 15 of the Principal Act, the following new sections shall be inserted, namely:- “15-A. Settlement of disputes by Ombudsperson.- The Government shall by notification appoint an Ombudsperson who can act as a mediator between the borrower or lender, for settling the disputes. The procedure and guidelines for the settlement and mediation shall be in the manner as may be prescribed. 15-B. Grievances Redressal Forum.- The Government shall establish suitable grievance mechanism. The procedure and guidelines for grievance mechanism shall be in the manner as may be prescribed.”