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With reference to the RBI - Integrated Ombudsman Scheme, consider the following statements:
1. It will provide redressal of customer complaints involving deficiency in services rendered by banks, NBFCs and pre-paid instrument players.
2. It does not include non-scheduled primary co-operative banks.
3. The RBI Governor is the Appellate Authority under the integrated scheme.
Which of the statements given above is/are not correct?
  • a)
    1 only
  • b)
    2 and 3 only
  • c)
    1 and 3 only
  • d)
    3 only
Correct answer is option 'B'. Can you explain this answer?
Verified Answer
With reference to the RBI - Integrated Ombudsman Scheme, consider the ...
  • Recently, the Prime Minister has launched the Integrated Ombudsman Scheme by amalgamating three ombudsman schemes of RBI - banking ombudsman scheme of 2006, ombudsman scheme for NBFCs of 2018 and ombudsman scheme of digital transactions of 2019.
  • The unified ombudsman scheme will provide redress of customer complaints involving deficiency in services rendered by RBI regulated entities viz. banks, NBFCs (Non banking Financial Companies) and pre-paid instrument players if the grievance is not resolved to the satisfaction of the customers or not replied within a period of 30 days by the regulated entity. Hence, statement 1 is correct.
    • It also includes non-scheduled primary co-operative banks with a deposit size of Rs 50 crore and above. The integrated scheme makes it a “One Nation One Ombudsman’ approach and jurisdiction neutral. Hence, statement 2 is not correct.
  • The Scheme defines ‘deficiency in service’ as the ground for filing a complaint, with a specified list of exclusions.
    • Therefore, the complaints would no longer be rejected simply on account of “not covered under the grounds listed in the scheme”.
    • The scheme is jurisdiction neutral and a centralised receipt and processing centre has been set-up in Chandigarh for initial handling of complaints in any language.
  • RBI’s Executive Director-in charge of Consumer Education and Protection Department would be the Appellate Authority under the integrated scheme. Hence, statement 3 is not correct.
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Most Upvoted Answer
With reference to the RBI - Integrated Ombudsman Scheme, consider the ...
Explanation:

The RBI - Integrated Ombudsman Scheme is a customer complaint redressal mechanism that covers banks, NBFCs, and pre-paid instrument players. The scheme aims to provide a cost-free and expeditious complaint redressal mechanism to customers of these entities.

- Statement 1 is correct: The scheme covers customer complaints involving deficiency in services rendered by banks, NBFCs, and pre-paid instrument players.
- Statement 2 is incorrect: The scheme includes all scheduled commercial banks, regional rural banks, and scheduled primary co-operative banks. However, it does not cover non-scheduled primary co-operative banks.
- Statement 3 is correct: The RBI Governor is the Appellate Authority under the integrated scheme, and customers can approach the Governor's office if they are not satisfied with the resolution provided by the ombudsman.

Therefore, the correct answer is option B - Statements 2 and 3 only.
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With reference to the RBI - Integrated Ombudsman Scheme, consider the following statements:1. It will provide redressal of customer complaints involving deficiency in services rendered by banks, NBFCs and pre-paid instrument players.2. It does not include non-scheduled primary co-operative banks.3. The RBI Governor is the Appellate Authority under the integrated scheme.Which of the statements given above is/are not correct?a)1 onlyb)2 and 3 onlyc)1 and 3 onlyd)3 onlyCorrect answer is option 'B'. Can you explain this answer?
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With reference to the RBI - Integrated Ombudsman Scheme, consider the following statements:1. It will provide redressal of customer complaints involving deficiency in services rendered by banks, NBFCs and pre-paid instrument players.2. It does not include non-scheduled primary co-operative banks.3. The RBI Governor is the Appellate Authority under the integrated scheme.Which of the statements given above is/are not correct?a)1 onlyb)2 and 3 onlyc)1 and 3 onlyd)3 onlyCorrect answer is option 'B'. Can you explain this answer? for Current Affairs 2024 is part of Current Affairs preparation. The Question and answers have been prepared according to the Current Affairs exam syllabus. Information about With reference to the RBI - Integrated Ombudsman Scheme, consider the following statements:1. It will provide redressal of customer complaints involving deficiency in services rendered by banks, NBFCs and pre-paid instrument players.2. It does not include non-scheduled primary co-operative banks.3. The RBI Governor is the Appellate Authority under the integrated scheme.Which of the statements given above is/are not correct?a)1 onlyb)2 and 3 onlyc)1 and 3 onlyd)3 onlyCorrect answer is option 'B'. Can you explain this answer? covers all topics & solutions for Current Affairs 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for With reference to the RBI - Integrated Ombudsman Scheme, consider the following statements:1. It will provide redressal of customer complaints involving deficiency in services rendered by banks, NBFCs and pre-paid instrument players.2. It does not include non-scheduled primary co-operative banks.3. The RBI Governor is the Appellate Authority under the integrated scheme.Which of the statements given above is/are not correct?a)1 onlyb)2 and 3 onlyc)1 and 3 onlyd)3 onlyCorrect answer is option 'B'. Can you explain this answer?.
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