Consider the following statements about Ombudsman Scheme for NBFCs 1 The scheme covers all the NBFCs...........

Economic Affairs Non Banking Financial Companies (NBFCs)

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Consider the following statements about Ombudsman Scheme for NBFCs

1.The scheme covers all the NBFCs having an asset size of more than Rs 100 crore.

2.A retired judge of the Supreme Court will be appointed as the ombudsman.

3.Any person or customer can file a complaint with the ombudsman.

How many of the given statements are correct?

Only One

Only Two

All Three

None

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Explanation:

The statement "The scheme covers all the NBFCs having an asset size of more than Rs 100 crore" is incorrect. The Ombudsman Scheme for Non-Banking Financial Companies (NBFCs) covers all deposit-taking NBFCs, irrespective of their asset size. It is not limited to those with an asset size of more than Rs 100 crore.

The statement "A retired judge of the Supreme Court will be appointed as the ombudsman" is correct. The ombudsman appointed under the scheme is typically a retired or serving officer not below the rank of a Chief General Manager in the Reserve Bank of India (RBI), or a person of equivalent rank in the NBFC sector.

The statement "Any person or customer can file a complaint with the ombudsman" is correct. The ombudsman provides a mechanism for addressing complaints from customers or members of the public against NBFCs covered under the scheme.