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BANKING OMBUDSMAN SCHEME 2006
#1
Objective

1. To resolve complaints relating to banking services and to facilitate the satisfaction or settlement of such complaints.
2. Resolve disputes between a bank and its constituents as well as amongst banks, through the process of conciliation , meditation, and arbitration

banking ombudsman means any person appointed under clause no. 4 of the scheme.

appointment and tenure

The RBI may appoint one of more of its officers in the bank of chief general manager or general manager to be known as the banking ombudsman to carry out the functions entrusted to them by or under the scheme. this appointment may be made for a period not exceeding three years at a time


General Powers of banking ombudsman

1. to receive complaints relating to banking services.
2. to consider such complaints relating to the deficiencies in the banking and other services and facilitate their satisfaction or settlement by agreement through conciliation and mediation between the bank and the aggrieved parties or by passing an award in accordance with the scheme.
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