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Read the following passage carefully and answer the questions given below it. Certain words are given in underlineto help you locate them while answering some of the questions.Public sector banks are back in focus, not for thesteeprise in bad loans, but for customer complaints against them. At first glance, the Reserve Bank of India’s annual report on the Banking Ombudsman Scheme reveals that customers of PSBs had a litany of grievances, while patrons of private and foreign banks were quite content with the services offered to them. But one reason why PSBs account for about 65 per cent of the complaints is that these banks have a lion’s share — about three-fourths — of the loans and deposits in the banking system. If we consider the number of complaints per account or branch, nationalised banks, surprisingly, have fewer complaints than their private and foreign counterparts. Complaints from the rural and semi-urban population have witnessed an increase, implying the wider participation from these segments. But there is a lack of awareness about the ombudsman scheme or lack of access to it in these regions. While they account for about two-thirds of the bank branches in India, less than 30 per cent of the complaints were lodged from here.Reporting such numbers only scratches the surface of the problem. The ombudsman scheme, which was launched two decades ago to provide a free grievanceredresssystem in the face of rising complaints against banks, will now have to use the data to improve its functioning. Both the Centre and the regulator also need to act onlongstandinggrievances. For years now, debit/credit card operations (21 per cent of complaints) and unfair banking practices (29 per cent) have made up a largechunkof the complaints. Customers have had a laundry list of woes regarding failure of withdrawals from ATMs, issue of unsolicited cards and insurance policies, and banks’ non-adherence to ‘fair practices’ or BCSBI (Banking Codes and Standards Board of India) codes. The BCSBI was set up a decade ago to supplement the ombudsman scheme. Hence, the wide non-adherence to these codes on the part of banks is inexcusable. What it highlights is the need for the RBI to follow up morestringentlyon ensuring that banks conform to norms.Reviewing the scope of the ombudsman scheme and educating customers on the procedures to lodge complaints, willensurethat grievances that do find their way into the redressal system get resolved effectively. While the report shows that the scheme disposed 96 per cent of the complaints in 2014-15, rejections were as high as around two-thirds, because the solution to many of the grievances fell outside the jurisdiction of the banking ombudsman. The RBI advisory that banks have an internal redress mechanism to deal with the issue first-hand will work only if the process is streamlined for better results.Q. What could be the best title for the above passage?a)Ombudsman schemeb)RBI's Policiesc)Beyond just numbersd)Unfair practicese)Major challengeCorrect answer is option 'C'. Can you explain this answer? for Banking Exams 2024 is part of Banking Exams preparation. The Question and answers have been prepared according to the Banking Exams exam syllabus. Information about Read the following passage carefully and answer the questions given below it. Certain words are given in underlineto help you locate them while answering some of the questions.Public sector banks are back in focus, not for thesteeprise in bad loans, but for customer complaints against them. At first glance, the Reserve Bank of India’s annual report on the Banking Ombudsman Scheme reveals that customers of PSBs had a litany of grievances, while patrons of private and foreign banks were quite content with the services offered to them. But one reason why PSBs account for about 65 per cent of the complaints is that these banks have a lion’s share — about three-fourths — of the loans and deposits in the banking system. If we consider the number of complaints per account or branch, nationalised banks, surprisingly, have fewer complaints than their private and foreign counterparts. Complaints from the rural and semi-urban population have witnessed an increase, implying the wider participation from these segments. But there is a lack of awareness about the ombudsman scheme or lack of access to it in these regions. While they account for about two-thirds of the bank branches in India, less than 30 per cent of the complaints were lodged from here.Reporting such numbers only scratches the surface of the problem. The ombudsman scheme, which was launched two decades ago to provide a free grievanceredresssystem in the face of rising complaints against banks, will now have to use the data to improve its functioning. Both the Centre and the regulator also need to act onlongstandinggrievances. For years now, debit/credit card operations (21 per cent of complaints) and unfair banking practices (29 per cent) have made up a largechunkof the complaints. Customers have had a laundry list of woes regarding failure of withdrawals from ATMs, issue of unsolicited cards and insurance policies, and banks’ non-adherence to ‘fair practices’ or BCSBI (Banking Codes and Standards Board of India) codes. The BCSBI was set up a decade ago to supplement the ombudsman scheme. Hence, the wide non-adherence to these codes on the part of banks is inexcusable. What it highlights is the need for the RBI to follow up morestringentlyon ensuring that banks conform to norms.Reviewing the scope of the ombudsman scheme and educating customers on the procedures to lodge complaints, willensurethat grievances that do find their way into the redressal system get resolved effectively. While the report shows that the scheme disposed 96 per cent of the complaints in 2014-15, rejections were as high as around two-thirds, because the solution to many of the grievances fell outside the jurisdiction of the banking ombudsman. The RBI advisory that banks have an internal redress mechanism to deal with the issue first-hand will work only if the process is streamlined for better results.Q. What could be the best title for the above passage?a)Ombudsman schemeb)RBI's Policiesc)Beyond just numbersd)Unfair practicese)Major challengeCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for Banking Exams 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Read the following passage carefully and answer the questions given below it. Certain words are given in underlineto help you locate them while answering some of the questions.Public sector banks are back in focus, not for thesteeprise in bad loans, but for customer complaints against them. At first glance, the Reserve Bank of India’s annual report on the Banking Ombudsman Scheme reveals that customers of PSBs had a litany of grievances, while patrons of private and foreign banks were quite content with the services offered to them. But one reason why PSBs account for about 65 per cent of the complaints is that these banks have a lion’s share — about three-fourths — of the loans and deposits in the banking system. If we consider the number of complaints per account or branch, nationalised banks, surprisingly, have fewer complaints than their private and foreign counterparts. Complaints from the rural and semi-urban population have witnessed an increase, implying the wider participation from these segments. But there is a lack of awareness about the ombudsman scheme or lack of access to it in these regions. While they account for about two-thirds of the bank branches in India, less than 30 per cent of the complaints were lodged from here.Reporting such numbers only scratches the surface of the problem. The ombudsman scheme, which was launched two decades ago to provide a free grievanceredresssystem in the face of rising complaints against banks, will now have to use the data to improve its functioning. Both the Centre and the regulator also need to act onlongstandinggrievances. For years now, debit/credit card operations (21 per cent of complaints) and unfair banking practices (29 per cent) have made up a largechunkof the complaints. Customers have had a laundry list of woes regarding failure of withdrawals from ATMs, issue of unsolicited cards and insurance policies, and banks’ non-adherence to ‘fair practices’ or BCSBI (Banking Codes and Standards Board of India) codes. The BCSBI was set up a decade ago to supplement the ombudsman scheme. Hence, the wide non-adherence to these codes on the part of banks is inexcusable. What it highlights is the need for the RBI to follow up morestringentlyon ensuring that banks conform to norms.Reviewing the scope of the ombudsman scheme and educating customers on the procedures to lodge complaints, willensurethat grievances that do find their way into the redressal system get resolved effectively. While the report shows that the scheme disposed 96 per cent of the complaints in 2014-15, rejections were as high as around two-thirds, because the solution to many of the grievances fell outside the jurisdiction of the banking ombudsman. The RBI advisory that banks have an internal redress mechanism to deal with the issue first-hand will work only if the process is streamlined for better results.Q. What could be the best title for the above passage?a)Ombudsman schemeb)RBI's Policiesc)Beyond just numbersd)Unfair practicese)Major challengeCorrect answer is option 'C'. Can you explain this answer?.

Solutions for Read the following passage carefully and answer the questions given below it. Certain words are given in underlineto help you locate them while answering some of the questions.Public sector banks are back in focus, not for thesteeprise in bad loans, but for customer complaints against them. At first glance, the Reserve Bank of India’s annual report on the Banking Ombudsman Scheme reveals that customers of PSBs had a litany of grievances, while patrons of private and foreign banks were quite content with the services offered to them. But one reason why PSBs account for about 65 per cent of the complaints is that these banks have a lion’s share — about three-fourths — of the loans and deposits in the banking system. If we consider the number of complaints per account or branch, nationalised banks, surprisingly, have fewer complaints than their private and foreign counterparts. Complaints from the rural and semi-urban population have witnessed an increase, implying the wider participation from these segments. But there is a lack of awareness about the ombudsman scheme or lack of access to it in these regions. While they account for about two-thirds of the bank branches in India, less than 30 per cent of the complaints were lodged from here.Reporting such numbers only scratches the surface of the problem. The ombudsman scheme, which was launched two decades ago to provide a free grievanceredresssystem in the face of rising complaints against banks, will now have to use the data to improve its functioning. Both the Centre and the regulator also need to act onlongstandinggrievances. For years now, debit/credit card operations (21 per cent of complaints) and unfair banking practices (29 per cent) have made up a largechunkof the complaints. Customers have had a laundry list of woes regarding failure of withdrawals from ATMs, issue of unsolicited cards and insurance policies, and banks’ non-adherence to ‘fair practices’ or BCSBI (Banking Codes and Standards Board of India) codes. The BCSBI was set up a decade ago to supplement the ombudsman scheme. Hence, the wide non-adherence to these codes on the part of banks is inexcusable. What it highlights is the need for the RBI to follow up morestringentlyon ensuring that banks conform to norms.Reviewing the scope of the ombudsman scheme and educating customers on the procedures to lodge complaints, willensurethat grievances that do find their way into the redressal system get resolved effectively. While the report shows that the scheme disposed 96 per cent of the complaints in 2014-15, rejections were as high as around two-thirds, because the solution to many of the grievances fell outside the jurisdiction of the banking ombudsman. The RBI advisory that banks have an internal redress mechanism to deal with the issue first-hand will work only if the process is streamlined for better results.Q. What could be the best title for the above passage?a)Ombudsman schemeb)RBI's Policiesc)Beyond just numbersd)Unfair practicese)Major challengeCorrect answer is option 'C'. Can you explain this answer? in English & in Hindi are available as part of our courses for Banking Exams. Download more important topics, notes, lectures and mock test series for Banking Exams Exam by signing up for free.

Here you can find the meaning of Read the following passage carefully and answer the questions given below it. Certain words are given in underlineto help you locate them while answering some of the questions.Public sector banks are back in focus, not for thesteeprise in bad loans, but for customer complaints against them. At first glance, the Reserve Bank of India’s annual report on the Banking Ombudsman Scheme reveals that customers of PSBs had a litany of grievances, while patrons of private and foreign banks were quite content with the services offered to them. But one reason why PSBs account for about 65 per cent of the complaints is that these banks have a lion’s share — about three-fourths — of the loans and deposits in the banking system. If we consider the number of complaints per account or branch, nationalised banks, surprisingly, have fewer complaints than their private and foreign counterparts. Complaints from the rural and semi-urban population have witnessed an increase, implying the wider participation from these segments. But there is a lack of awareness about the ombudsman scheme or lack of access to it in these regions. While they account for about two-thirds of the bank branches in India, less than 30 per cent of the complaints were lodged from here.Reporting such numbers only scratches the surface of the problem. The ombudsman scheme, which was launched two decades ago to provide a free grievanceredresssystem in the face of rising complaints against banks, will now have to use the data to improve its functioning. Both the Centre and the regulator also need to act onlongstandinggrievances. For years now, debit/credit card operations (21 per cent of complaints) and unfair banking practices (29 per cent) have made up a largechunkof the complaints. Customers have had a laundry list of woes regarding failure of withdrawals from ATMs, issue of unsolicited cards and insurance policies, and banks’ non-adherence to ‘fair practices’ or BCSBI (Banking Codes and Standards Board of India) codes. The BCSBI was set up a decade ago to supplement the ombudsman scheme. Hence, the wide non-adherence to these codes on the part of banks is inexcusable. What it highlights is the need for the RBI to follow up morestringentlyon ensuring that banks conform to norms.Reviewing the scope of the ombudsman scheme and educating customers on the procedures to lodge complaints, willensurethat grievances that do find their way into the redressal system get resolved effectively. While the report shows that the scheme disposed 96 per cent of the complaints in 2014-15, rejections were as high as around two-thirds, because the solution to many of the grievances fell outside the jurisdiction of the banking ombudsman. The RBI advisory that banks have an internal redress mechanism to deal with the issue first-hand will work only if the process is streamlined for better results.Q. What could be the best title for the above passage?a)Ombudsman schemeb)RBI's Policiesc)Beyond just numbersd)Unfair practicese)Major challengeCorrect answer is option 'C'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of Read the following passage carefully and answer the questions given below it. Certain words are given in underlineto help you locate them while answering some of the questions.Public sector banks are back in focus, not for thesteeprise in bad loans, but for customer complaints against them. At first glance, the Reserve Bank of India’s annual report on the Banking Ombudsman Scheme reveals that customers of PSBs had a litany of grievances, while patrons of private and foreign banks were quite content with the services offered to them. But one reason why PSBs account for about 65 per cent of the complaints is that these banks have a lion’s share — about three-fourths — of the loans and deposits in the banking system. If we consider the number of complaints per account or branch, nationalised banks, surprisingly, have fewer complaints than their private and foreign counterparts. Complaints from the rural and semi-urban population have witnessed an increase, implying the wider participation from these segments. But there is a lack of awareness about the ombudsman scheme or lack of access to it in these regions. While they account for about two-thirds of the bank branches in India, less than 30 per cent of the complaints were lodged from here.Reporting such numbers only scratches the surface of the problem. The ombudsman scheme, which was launched two decades ago to provide a free grievanceredresssystem in the face of rising complaints against banks, will now have to use the data to improve its functioning. Both the Centre and the regulator also need to act onlongstandinggrievances. For years now, debit/credit card operations (21 per cent of complaints) and unfair banking practices (29 per cent) have made up a largechunkof the complaints. Customers have had a laundry list of woes regarding failure of withdrawals from ATMs, issue of unsolicited cards and insurance policies, and banks’ non-adherence to ‘fair practices’ or BCSBI (Banking Codes and Standards Board of India) codes. The BCSBI was set up a decade ago to supplement the ombudsman scheme. Hence, the wide non-adherence to these codes on the part of banks is inexcusable. What it highlights is the need for the RBI to follow up morestringentlyon ensuring that banks conform to norms.Reviewing the scope of the ombudsman scheme and educating customers on the procedures to lodge complaints, willensurethat grievances that do find their way into the redressal system get resolved effectively. While the report shows that the scheme disposed 96 per cent of the complaints in 2014-15, rejections were as high as around two-thirds, because the solution to many of the grievances fell outside the jurisdiction of the banking ombudsman. The RBI advisory that banks have an internal redress mechanism to deal with the issue first-hand will work only if the process is streamlined for better results.Q. What could be the best title for the above passage?a)Ombudsman schemeb)RBI's Policiesc)Beyond just numbersd)Unfair practicese)Major challengeCorrect answer is option 'C'. Can you explain this answer?, a detailed solution for Read the following passage carefully and answer the questions given below it. Certain words are given in underlineto help you locate them while answering some of the questions.Public sector banks are back in focus, not for thesteeprise in bad loans, but for customer complaints against them. At first glance, the Reserve Bank of India’s annual report on the Banking Ombudsman Scheme reveals that customers of PSBs had a litany of grievances, while patrons of private and foreign banks were quite content with the services offered to them. But one reason why PSBs account for about 65 per cent of the complaints is that these banks have a lion’s share — about three-fourths — of the loans and deposits in the banking system. If we consider the number of complaints per account or branch, nationalised banks, surprisingly, have fewer complaints than their private and foreign counterparts. Complaints from the rural and semi-urban population have witnessed an increase, implying the wider participation from these segments. But there is a lack of awareness about the ombudsman scheme or lack of access to it in these regions. While they account for about two-thirds of the bank branches in India, less than 30 per cent of the complaints were lodged from here.Reporting such numbers only scratches the surface of the problem. The ombudsman scheme, which was launched two decades ago to provide a free grievanceredresssystem in the face of rising complaints against banks, will now have to use the data to improve its functioning. Both the Centre and the regulator also need to act onlongstandinggrievances. For years now, debit/credit card operations (21 per cent of complaints) and unfair banking practices (29 per cent) have made up a largechunkof the complaints. Customers have had a laundry list of woes regarding failure of withdrawals from ATMs, issue of unsolicited cards and insurance policies, and banks’ non-adherence to ‘fair practices’ or BCSBI (Banking Codes and Standards Board of India) codes. The BCSBI was set up a decade ago to supplement the ombudsman scheme. Hence, the wide non-adherence to these codes on the part of banks is inexcusable. What it highlights is the need for the RBI to follow up morestringentlyon ensuring that banks conform to norms.Reviewing the scope of the ombudsman scheme and educating customers on the procedures to lodge complaints, willensurethat grievances that do find their way into the redressal system get resolved effectively. While the report shows that the scheme disposed 96 per cent of the complaints in 2014-15, rejections were as high as around two-thirds, because the solution to many of the grievances fell outside the jurisdiction of the banking ombudsman. The RBI advisory that banks have an internal redress mechanism to deal with the issue first-hand will work only if the process is streamlined for better results.Q. What could be the best title for the above passage?a)Ombudsman schemeb)RBI's Policiesc)Beyond just numbersd)Unfair practicese)Major challengeCorrect answer is option 'C'. Can you explain this answer? has been provided alongside types of Read the following passage carefully and answer the questions given below it. Certain words are given in underlineto help you locate them while answering some of the questions.Public sector banks are back in focus, not for thesteeprise in bad loans, but for customer complaints against them. At first glance, the Reserve Bank of India’s annual report on the Banking Ombudsman Scheme reveals that customers of PSBs had a litany of grievances, while patrons of private and foreign banks were quite content with the services offered to them. But one reason why PSBs account for about 65 per cent of the complaints is that these banks have a lion’s share — about three-fourths — of the loans and deposits in the banking system. If we consider the number of complaints per account or branch, nationalised banks, surprisingly, have fewer complaints than their private and foreign counterparts. Complaints from the rural and semi-urban population have witnessed an increase, implying the wider participation from these segments. But there is a lack of awareness about the ombudsman scheme or lack of access to it in these regions. While they account for about two-thirds of the bank branches in India, less than 30 per cent of the complaints were lodged from here.Reporting such numbers only scratches the surface of the problem. The ombudsman scheme, which was launched two decades ago to provide a free grievanceredresssystem in the face of rising complaints against banks, will now have to use the data to improve its functioning. Both the Centre and the regulator also need to act onlongstandinggrievances. For years now, debit/credit card operations (21 per cent of complaints) and unfair banking practices (29 per cent) have made up a largechunkof the complaints. Customers have had a laundry list of woes regarding failure of withdrawals from ATMs, issue of unsolicited cards and insurance policies, and banks’ non-adherence to ‘fair practices’ or BCSBI (Banking Codes and Standards Board of India) codes. The BCSBI was set up a decade ago to supplement the ombudsman scheme. Hence, the wide non-adherence to these codes on the part of banks is inexcusable. What it highlights is the need for the RBI to follow up morestringentlyon ensuring that banks conform to norms.Reviewing the scope of the ombudsman scheme and educating customers on the procedures to lodge complaints, willensurethat grievances that do find their way into the redressal system get resolved effectively. While the report shows that the scheme disposed 96 per cent of the complaints in 2014-15, rejections were as high as around two-thirds, because the solution to many of the grievances fell outside the jurisdiction of the banking ombudsman. The RBI advisory that banks have an internal redress mechanism to deal with the issue first-hand will work only if the process is streamlined for better results.Q. What could be the best title for the above passage?a)Ombudsman schemeb)RBI's Policiesc)Beyond just numbersd)Unfair practicese)Major challengeCorrect answer is option 'C'. Can you explain this answer? theory, EduRev gives you an ample number of questions to practice Read the following passage carefully and answer the questions given below it. Certain words are given in underlineto help you locate them while answering some of the questions.Public sector banks are back in focus, not for thesteeprise in bad loans, but for customer complaints against them. At first glance, the Reserve Bank of India’s annual report on the Banking Ombudsman Scheme reveals that customers of PSBs had a litany of grievances, while patrons of private and foreign banks were quite content with the services offered to them. But one reason why PSBs account for about 65 per cent of the complaints is that these banks have a lion’s share — about three-fourths — of the loans and deposits in the banking system. If we consider the number of complaints per account or branch, nationalised banks, surprisingly, have fewer complaints than their private and foreign counterparts. Complaints from the rural and semi-urban population have witnessed an increase, implying the wider participation from these segments. But there is a lack of awareness about the ombudsman scheme or lack of access to it in these regions. While they account for about two-thirds of the bank branches in India, less than 30 per cent of the complaints were lodged from here.Reporting such numbers only scratches the surface of the problem. The ombudsman scheme, which was launched two decades ago to provide a free grievanceredresssystem in the face of rising complaints against banks, will now have to use the data to improve its functioning. Both the Centre and the regulator also need to act onlongstandinggrievances. For years now, debit/credit card operations (21 per cent of complaints) and unfair banking practices (29 per cent) have made up a largechunkof the complaints. Customers have had a laundry list of woes regarding failure of withdrawals from ATMs, issue of unsolicited cards and insurance policies, and banks’ non-adherence to ‘fair practices’ or BCSBI (Banking Codes and Standards Board of India) codes. The BCSBI was set up a decade ago to supplement the ombudsman scheme. Hence, the wide non-adherence to these codes on the part of banks is inexcusable. What it highlights is the need for the RBI to follow up morestringentlyon ensuring that banks conform to norms.Reviewing the scope of the ombudsman scheme and educating customers on the procedures to lodge complaints, willensurethat grievances that do find their way into the redressal system get resolved effectively. While the report shows that the scheme disposed 96 per cent of the complaints in 2014-15, rejections were as high as around two-thirds, because the solution to many of the grievances fell outside the jurisdiction of the banking ombudsman. The RBI advisory that banks have an internal redress mechanism to deal with the issue first-hand will work only if the process is streamlined for better results.Q. What could be the best title for the above passage?a)Ombudsman schemeb)RBI's Policiesc)Beyond just numbersd)Unfair practicese)Major challengeCorrect answer is option 'C'. Can you explain this answer? tests, examples and also practice Banking Exams tests.