The Banking Ombudsman Scheme is introduced by RBI with effect from

BANKING GENERAL KNOWLEDGE

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

A	1991
B	1995
C	1990
D	2002

Explanation:

Detailed explanation-1: -The Reserve Bank had first introduced the Banking Ombudsman Scheme in 1995 to provide expeditious and inexpensive forum to bank customers for resolution of their complaints relating to deficiency in banking services.

Detailed explanation-2: -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-3: -Banking Ombudsman Scheme, 1995 was notified by the Reserve Bank of India on June 14, 1995 under Section 35 A of the Banking Regulation Act, 1949.

Detailed explanation-4: -The Banking Ombudsman Scheme enables an expeditious and inexpensive forum to 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.

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