Correct Answer - Option 1 : RBI
The correct answer is RBI.
Banking Ombudsman :
- The banking ombudsman is an expeditious and inexpensive forum for bank customers for the resolution of complaints related to certain services rendered by banks.
- The Banking ombudsman is introduced under Section 35, Banking Regulation Act, 1949 by RBI with effect from 1995.
- The Banking Ombudsman is the senior official appointed by the RBI.
- One can file a complaint in front of the Banking Ombudsman if the reply is not received from the bank within a period of one month after the bank concerned has received one's complaint, or the bank rejects the complaint, or if the complainant is not satisfied with the reply given by the bank.
- There are currently 22 offices are present of Banking Ombudsman in India and the maximum offices of Banking Ombudsman are present in New Delhi i.e 3 offices.
- One may lodge his/ her complaint at the office of the Banking Ombudsman under whose jurisdiction, the bank branch complained against is situated.
- Ombudsman can reject the complaint if the compensation is above Rs. 20 Lakhs.
- All Scheduled commercial banks, Regional Rural Banks, and Scheduled Primary Co-Operative banks are covered under the Banking Ombudsman scheme.
Ombudsman will not consider the complaint of the complainant on certain grounds that are :
- One has not approached his bank for the redressal of his grievance first.
- One has not made the complaint within one year from the date of receipt of the reply of the bank or if no reply is received, and the complaint to Banking Ombudsman is made after the lapse of more than one year and one month from the date of the complaint made to the bank.
