BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Given only by the affected person
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Given only by the complainant
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Given by the Authorized representative
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Given by Staff for salary
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Detailed explanation-1: -Grounds of complaints non-payment or inordinate delay in the payment or collection of cheques, drafts, bills etc. any other matter relating to the violation of the directives issued by the Reserve Bank in relation to banking or other services.
Detailed explanation-2: -However, for any consequential loss suffered by the complainant, the Ombudsman shall have the power to provide a compensation up to Rupees 20 lakh, in addition to, up to Rupees One lakh for the loss of the complainant’s time, expenses incurred and for harassment/mental anguish suffered by the complainant.
Detailed explanation-3: -The Banking Ombudsman Scheme is an expeditious and inexpensive forum for bank customers for resolution of complaints relating to certain services rendered by banks. The Banking Ombudsman Scheme is introduced under Section 35 A of the Banking Regulation Act, 1949 by RBI with effect from 1995.
Detailed explanation-4: -Frivolous or vexatious complaints.