1. What does the Banking Ombudsman Scheme, 2006 offer?
The Banking Ombudsman Scheme, 2006 enables resolution of
complaints of bank customers relating to certain services rendered by banks.
2. Has the Banking Ombudsman Scheme come into effect?
The Scheme has come into force from January 1, 2006.
3. Who is a Banking Ombudsman?
The Banking Ombudsman is person appointed by the Reserve Bank
of India to redress customer complaints against certain deficiency in banking
services.
4. Does the Banking Ombudsman have any legal power?
The Banking Ombudsman is a quasi judicial authority. It has
power to summon both the parties - bank and its customer, to facilitate
resolution of complaint through mediation.
5. How many Banking Ombudsmen have been appointed and where
are they located?
As on date, 15 Banking Ombudsmen have been appointed with
their offices located mostly in the State Capitals. The addresses of the
Banking Ombudsman offices have been provided in the RBI website.
6. Which banks are covered under the Banking Ombudsman Scheme,
2006?
All Scheduled Commercial Banks, Regional Rural Banks and
Scheduled Primary Co-operative Banks are covered under the Scheme.
7. How is the new Banking Ombudsman Scheme, 2006 different
from the Old Banking Ombudsman Scheme, 2002?
The extent and scope of the new Scheme is wider than the
earlier Scheme of 2002. The new Scheme also provides for online submission of
complaints. The new Scheme additionally provides for the institution of an
'appellate authority' for providing scope for appeal against an award passed by
the Ombudsman both by the bank as well as the complainant.
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