BANKING AFFAIRS

Detailed explanation-1: -An appeal can be filed against the Award or the decision of the RBI Ombudsman rejecting the complaint closed under appealable clauses, within 30 days of the date of receipt of communication of Award or rejection of the complaint.

Detailed explanation-2: -(3) The complainant may, aggrieved by an Award under clause 15(1) or rejection of a complaint under clauses 16(2)(c) to 16(2)(f), within 30 days of the date of receipt of the Award or rejection of the complaint, prefer an appeal before the Appellate Authority.

Detailed explanation-3: -(2) The appointment of Banking Ombudsman under the above Clause may be made for a period not exceeding three years at a time. (1) The office of the Banking Ombudsman shall be located at such places as may be specified by the Reserve Bank.

Detailed explanation-4: -One has not made the complaint within one year from the date of receipt of the reply of the bank or if no reply is received, and the complaint to Banking Ombudsman is made after the lapse of more than one year and one month from the date of complaint made to the bank.

Detailed explanation-5: -The ombudsman can reject a customer’s complaint if he has not approached his bank for grievance redressal first, or if the subject is pending for disposal, or has already been dealt with at any other forum, such as a court of law or consumer court.