In November 2021 RBI introduced an Internal Ombudsman mechanism for select Non Banking Financial Com...........

Static GK (SBI -PO) Banking Awareness

In November 2021, RBI introduced an Internal Ombudsman mechanism for select Non-Banking Financial Companies.Non-Deposit-taking NBFCs with assets size of _______must appoint an Internal Ombudsman (IO).

This questions was previously asked in

SBI PO Prelims (02 Jan, 2022)

View All SBIPO Previous Year Papers

Rs.50 crore

Rs.500 crore

Rs.5,000 crore

Rs.1,000 crore

Rs.100 crore

छोटे Courses बड़े Results

Master Banking Awareness

Prepare through Micro-courses

Try Now

Explanation:

- In November 2021, the Reserve Bank of India (RBI) introduced an Internal Ombudsman (IO) mechanism for select Non-Banking Financial Companies (NBFCs).

- This mechanism is meant to improve customer grievance handling by providing an independent and impartial authority within the NBFCs.

- The requirement to appoint an IO applies to Non-Deposit-taking NBFCs.

- Those NBFCs with an asset size of Rs.5,000 crore or above must appoint an Internal Ombudsman.