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What is the Banking Ombudsman Scheme?

Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 shivanshi singh asked almost 3 years ago

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 karthikeya answered over 2 years ago

Scope of the Scheme: In 2006, the Reserve Bank of India announced the revised Banking Ombudsman Scheme with enlarged scope that included customer complaints on certain new areas, such as, credit card complaints, deficiencies in providing the promised services even by banks' sales agents, levying service charges without prior notice to the customer and non adherence to the fair practices code as adopted by individual banks. **Application of the Scheme** The scheme is applicable to all commercial banks, regional rural banks and scheduled primary cooperative banks having business in India. **Funding** Unlike the old scheme, the revised Banking Ombudsman Scheme is fully staffed and funded by the Reserve Bank instead of the banks. **Filing of Complaint** Under the revised Banking Ombudsman Scheme, the complainants can file their complaints in any form, including online. **Appeal** The bank customers would also be able to appeal to the Reserve Bank against the awards given by the Banking Ombudsmen. **Forum for the complaints** The 2006 scheme provides a forum to bank customers to seek redressal of their most common complaints against banks, including those relating to credit cards, service charges, promises given by the sales agents of banks, but not kept by banks, as also, delays in delivery of bank services. **New areas of Complaint** The bank customers can complain about non-payment or any inordinate delay in payments or collection of cheques towards bills or remittances by banks, as also non-acceptance of small denomination notes and coins or charging of commission for acceptance of small denomination notes and coins by banks. **Provisions of the Scheme** The Banking Ombudsman Scheme 2006 provides a wide scope and extent to the schemes of 1995 and 2002. **Appeal** If the customer is not satisfied with the award of the Banking Ombudsman, he can approach to the RBI, to the appellate authority called Deputy Governor. Still he is not satisfied, after approaching to the RBI, he can go to the High Court1

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 veeru answered over 2 years ago

The Banking Ombudsman Scheme enables an expeditious and inexpensive forum to bank customers for resolution of complaints relating to certain services rendered by banks.

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 Pankaj answered over 2 years ago

•The Banking Ombudsman Scheme enables an expeditious and inexpensive forum to bank customers for resolution of complaints relating to certain services rendered by banks. •The Banking Ombudsman Scheme is introduced under Section 35 A of the Banking Regulation Act, 1949 by RBI with effect from 1995. Thanks

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 veeru answered over 2 years ago

The Banking Ombudsman Scheme enables an expeditious and inexpensive forum to bank customers for resolution of complaints relating to certain services rendered by banks. The Banking Ombudsman Scheme is introduced under Section 35 A of the Banking

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 Amit Goyal answered almost 3 years ago

Dear Shivanshi Ji , As far as your query is concerned with What is the Banking Ombudsman Scheme. Let me informed you that banking ombudsman scheme is nothing but [1] A Scheme that enables the banking ombudsman person to creative an action against the bank for deficiency in their banking services. [2] It is introduced under section 35 A Of the Banking Regulation Act 1949. Thanks With Best Regards Amit Goyal

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Picsjoin 2017224123730582 Archana answered almost 3 years ago

Hie Shivanshi, - The Banking Ombudsman Scheme enables an expeditious and inexpensive forum to bank customers for resolution of complaints relating to certain services rendered by banks. - The Banking Ombudsman Scheme is introduced under Section 35 A of the Banking Regulation Act, 1949 by RBI with effect from 1995.

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 jitendra etikala answered almost 3 years ago

The Banking Ombudsman Scheme enables an expeditious and inexpensive forum to bank customers for resolution of complaints relating to certain services rendered by banks. The Banking Ombudsman Scheme is introduced under Section 35 A of the Banking Regulation Act, 1949 by RBI with effect from 1995.

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Open uri20170510 32134 s5bvk0?1494421637 ARJUN PRATAP SINGH answered almost 3 years ago

Dear Friend, as far as your query is concerned that What is the Banking Ombudsman Scheme? Let me informed that The Banking Ombudsman Scheme enables an expeditious and inexpensive forum to bank customers for resolution of complaints relating to certain services rendered by banks. The Banking Ombudsman Scheme is introduced under Section 35 A of the Banking Regulation Act, 1949 by RBI with effect from 1995. Hope answer was helpful to you Regards, Arjun Pratap Singh

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