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July 30, 2013

Short-notes on Banking Ombudsman Scheme 2006 - Banking Awareness for IBPS Bank Exams

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Friends, here is another post related to Banking Awareness which will be helpful for your upcoming IBPS Banking Exams. In this post we shall discuss about Banking Ombudsman Scheme which enables the resolution of complaints of customers of banks relating to certain services rendered by the banks. 

Banking Ombudsman : An ombudsman is a senior official appointed by the Reserve Bank of India (RBI) with a significant degree of independence, who investigates complaints of normal people for violation of Services of the bank. In simple words, if you are not satisfied with the bank's services, then you can go to Ombudsman and file a complaint against the bank. There are fifteen Banking Ombudsmen have been appointed with their offices located mostly in state capitals as of now. 

Banking Ombudsman Scheme 2006 : The Banking Ombudsman scheme was introduced in the year 2006 to receive and deal with the public complaints against the banks of deficiencies in specified types of services. The Reserve Bank of India (RBI) introduced this scheme under BR Acti 1949. The Banking Ombudsman is headed in the rank of Chief General Manager. Appointed by RBI to be known as Ombudsmen. The scheme facilitates to improve the customer service, help the customers to aware of their rights. 

The customer can give his complaint to the Branch Manager and it should be responded by the Branch Manager and it should be responded by the Branch Manager with in 30 days, if not the customer can file the complaint before Banking Ombudsman. 

Amendments :
  • In the year May 2007, the RBI has amended the Banking Ombudsman Scheme to enable the customers to appeal against the Banking Ombudsman's decision. Before the scheme was amended, the bank customers could appeal only against the awards given by the Banking Ombudsman. The appellate authority for the Banking Ombudsman Scheme is the Deputy Governor of Reserve Bank of India.
  • The RBI has amended the scheme again on 3rd February 2009, to include deficiencies arising out of internet banking. According to this new amended scheme, a customer would also be able to lodge a complaint against the bank for its non-adherence to the provisions of the fair practices code for lenders or the Code of Bank's Commitment to Customers issued by the Banking Codes and Standards Board of India (BCSBI). 
  • In 4th January 2013 the RBI has set up a working group to evaluate and make improvements in this scheme.
That's all for now friends. In our next post we shall discuss about the types of complaints we can lodge to Banking Ombudsman Scheme. You can get more Banking Awareness related posts from here. Happy Reading.


11 comments:

  1. thank u so much for ur valuable information mam.........

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  2. thanku so much such a valuable information..

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  3. Thanks a lot for your service :) Will definitely share this site with my friends!!!

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  4. Very thanks for providing us with these updates..

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  5. thank a lot for this valuable information

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  6. The Banking Ombudsman Scheme is introduced under Section 35 A of the Banking Regulation Act, 1949 by RBI with effect from 1995

    ReplyDelete

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