BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The chief vigilance officer of a bank
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The chairman of a bank
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An official in the Finance Ministry, Government of India
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An independent authority appointed by RBI to address customer complaints
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Detailed explanation-1: -The Banking Ombudsman is a senior official appointed by the Reserve Bank of India to redress customer complaints against deficiency in certain banking services. All Scheduled Commercial Banks, Regional Rural Banks and Scheduled Primary Co-operative Banks are covered under the Scheme.
Detailed explanation-2: -An RBI Ombudsman is a senior official of RBI appointed by RBI to redress the complaints from customers of the REs against “deficiency in service”, as defined under Clause 3(1)(g) of the RB-IOS, 2021.
Detailed explanation-3: -The correct answer is RBI. Banking Ombudsman : The banking ombudsman is an expeditious and inexpensive forum for bank customers for the resolution of complaints related to certain services rendered by banks. The Banking ombudsman is introduced under Section 35, Banking Regulation Act, 1949 by RBI with effect from 1995.