The Reserve Bank of India asked all scheduled commercial banks with more than uline{1cm} branches to appoint an internal ombudsman.

2018

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

The Reserve Bank of India asked all scheduled commercial banks with more than _________ branches to appoint an internal ombudsman.

A	25
B	20
C	15
D	10

Explanation:

Detailed explanation-1: -How many banking ombudsman are there in India ? Till date twenty-two Banking Ombudsman have been appointed with their offices under the RBI scheme (Banking Regulation Act, 1949 ). This is inclusive of all the Scheduled Commercial Banks, Regional Rural Banks and Scheduled Primary Co-operative Banks in the country.

Detailed explanation-2: -Who is a Banking Ombudsman? The Banking Ombudsman is a senior official appointed by the Reserve Bank of India to redress customer complaints against deficiency in certain banking services covered under the grounds of complaint specified under Clause 8 of the Banking Ombudsman Scheme 2006 (As amended upto July 1, 2017).

Detailed explanation-3: -The Scheme integrates the existing three Ombudsman schemes of RBI namely, (i) the Banking Ombudsman Scheme, 2006; (ii) the Ombudsman Scheme for Non-Banking Financial Companies, 2018; and (iii) the Ombudsman Scheme for Digital Transactions, 2019.

Detailed explanation-4: -The Banking Ombudsman may award compensation not exceeding ₹ 1 lakh (₹ One Hundred Thousand) to the complainant for mental agony and harassment.

There is 1 question to complete.