The Banking Ombudsman Scheme is an expeditious and inexpensive forum for bank customers for resolution of complaints relating to certain services rendered by banks. The Banking Ombudsman can receive and consider any complaint relating to which of the following deficiency in banking services?
- Non-adherence to prescribed working hours of banks
- Refusal to open deposit accounts without any valid reason for refusal
- Levying of charges without adequate prior notice to the customer
- Forced closure of deposit accounts without due notice or without sufficient reason
Select the correct answer using the codes below.
2, 3 and 4 only
Incorrect Answer2 and 4 only
Incorrect Answer1, 2, 3 and 4
Correct Answer1 and 3 only
Incorrect AnswerExplanation:
The Banking Ombudsman Scheme is introduced under Section 35 A of the Banking Regulation Act, 1949 by RBI with effect from 1995.Presently the Banking Ombudsman Scheme 2006 (as amended in 2017) is in operation.
The Banking Ombudsman is a senior official appointed by the Reserve Bank of India to redress customer complaints against deficiency in certain banking services covered under the grounds of complaint specified under Clause 8 of the Banking Ombudsman Scheme 2006 (as amended in 2017).
All Scheduled Commercial Banks, Regional Rural Banks and Scheduled Primary Co-operative Banks are covered under the Scheme.
Some other issues that can be reported are:
- non-payment or inordinate delay in the payment or collection of cheques, drafts, bills etc.;
- non-acceptance, without sufficient cause, of small denomination notes tendered for any purpose, and for charging of commission in respect thereof;
- failure to provide or delay in providing a banking facility (other than loans and advances) promised in writing by a bank or its direct selling agents;
- Non-adherence to the instructions of Reserve Bank with regard to Mobile Banking / Electronic Banking service in India by the bank
- Non-disbursement or delay in disbursement of pension etc.
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By: Pradeep Kumar