GK
BANKING AWARENESS AND SEBI
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The Bank should comply and intimate the compliance of Award to Ombudsman?
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Within one month
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Within Two Months
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Within six Months
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Within one year
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Explanation:
Detailed explanation-1: -The recommendation by the Damodaran Committee on banking customer services to set up an internal ombudsman system for every bank could complicate the grievances redressal system and increase the time to resolve the issues, according to customers and experts.
Detailed explanation-2: -Banking ombudsman is a quasi-judicial authority created by Government of India to provide effective complaints resolutions. It is a senior official appointed by RBI to address the complaints by the banking customers.
There is 1 question to complete.