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Who is the appellate authority in Banking Ombudsman?
  • a)
    Deputy Governor of RBI
  • b)
    Governor of RBI
  • c)
    Supreme Court Judge
  • d)
    Chairman of SBI
  • e)
    None of these
Correct answer is option 'A'. Can you explain this answer?
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Who is the appellate authority in Banking Ombudsman?a)Deputy Governor...
The appellate authority in Banking Ombudsman is Deputy Governor of RBI.
1. Banking Ombudsman is a person to whom the customer can approach for redressal of their grievances. He is appointed by RBI to redress customer complaints against certain deficiency in banking services.
2. All Scheduled Commercial Banks, Regional Rural Banks and Scheduled Primary Co-operative Banks are covered under the Banking Ombudsman Scheme, 2006.
3. One can file a complaint before 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 representation, or the bank rejects the complaint, or if the complainant is not satisfied with the reply given by the bank.
4. The Banking Ombudsman does not charge any fee for filing and resolving customers’ complaints.
Hence, the correct option is (A).
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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 Indi

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 Indi

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 Indi

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Who is the appellate authority in Banking Ombudsman?a)Deputy Governor of RBIb)Governor of RBIc)Supreme Court Judged)Chairman of SBIe)None of theseCorrect answer is option 'A'. Can you explain this answer?
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