Mr. Ashish Kumar is an Advocate. He is not satisfied with the service of the bank which has delayed his collection of cheque. He has taken up the matter with the bank concerned. Since he has not got a proper response, he has decided to approach Banking Ombudsman.

BANKING GENERAL KNOWLEDGE

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

A	He will not be entitled as per the scheme
B	He can very well take up the matter
C	There is bar for the advocate to involve themselves in approaching Banking Ombudsman
D	Mr. Ashish Kumar cannot avail the services of Banking Ombudsman, but he can approach the court of law

Explanation:

Detailed explanation-1: -Collecting banker is defined as the authority or banker who receives the bills, cheques, drafts, pay orders, etc., on behalf of the clients. The liabilities of collecting bankers and the role of collecting bankers are as agents of collection and holders of value.

Detailed explanation-2: -Insufficient funds Lack of cash in the account is one of the most common reasons for dishonoured cheques. The bank cannot execute the transaction if you do not have the required funds in your account. The bank may impose a cheque bounce penalty on the payer and the payee.

Detailed explanation-3: -As you are aware, in January 1992, banks were advised to implement the recommendation of the Goiporia Committee that dishonoured instruments are returned / despatched to the customer promptly without delay, in any case within 24 hours (Ref.

There is 1 question to complete.