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The three existing Ombudsman schemes under the Codes of Bank's Commitment - Banking Ombudsman Scheme 2006, Ombudsman Scheme for NBFCs 2018, and Ombudsman Scheme for Digital Transactions 2019 have been integrated into one scheme known as:
  • a)
    All-in-one Ombudsman Scheme 2021
  • b)
    Inclusive Ombudsman Scheme 2021
  • c)
    All India Ombudsman Scheme 2021
  • d)
    Integrated Ombudsman Scheme 2021
Correct answer is option 'D'. Can you explain this answer?
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The three existing Ombudsman schemes under the Codes of Banks Commitme...
The three existing Ombudsman Schemes integrated to become the "Integrated Ombudsman Scheme 2021."
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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

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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The three existing Ombudsman schemes under the Codes of Banks Commitment - Banking Ombudsman Scheme 2006, Ombudsman Scheme for NBFCs 2018, and Ombudsman Scheme for Digital Transactions 2019 have been integrated into one scheme known as:a)All-in-one Ombudsman Scheme 2021b)Inclusive Ombudsman Scheme 2021c)All India Ombudsman Scheme 2021d)Integrated Ombudsman Scheme 2021Correct answer is option 'D'. Can you explain this answer?
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The three existing Ombudsman schemes under the Codes of Banks Commitment - Banking Ombudsman Scheme 2006, Ombudsman Scheme for NBFCs 2018, and Ombudsman Scheme for Digital Transactions 2019 have been integrated into one scheme known as:a)All-in-one Ombudsman Scheme 2021b)Inclusive Ombudsman Scheme 2021c)All India Ombudsman Scheme 2021d)Integrated Ombudsman Scheme 2021Correct answer is option 'D'. 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 The three existing Ombudsman schemes under the Codes of Banks Commitment - Banking Ombudsman Scheme 2006, Ombudsman Scheme for NBFCs 2018, and Ombudsman Scheme for Digital Transactions 2019 have been integrated into one scheme known as:a)All-in-one Ombudsman Scheme 2021b)Inclusive Ombudsman Scheme 2021c)All India Ombudsman Scheme 2021d)Integrated Ombudsman Scheme 2021Correct answer is option 'D'. 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 The three existing Ombudsman schemes under the Codes of Banks Commitment - Banking Ombudsman Scheme 2006, Ombudsman Scheme for NBFCs 2018, and Ombudsman Scheme for Digital Transactions 2019 have been integrated into one scheme known as:a)All-in-one Ombudsman Scheme 2021b)Inclusive Ombudsman Scheme 2021c)All India Ombudsman Scheme 2021d)Integrated Ombudsman Scheme 2021Correct answer is option 'D'. Can you explain this answer?.
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