Tannans banking manual 24th edition 2011 at page 988, which states that when. Presently the scheme is administered by rbi through offices of 15 banking ombudsmen with specific statewise jurisdiction covering all states 29 and 7 union territories. Banking ombudsman scheme reserve bank of india annual report 200304 5 1. The banking ombudsman scheme, 2006 the scheme is introduced with the object of enabling resolution of complaints relating to certain services rendered by banks and to facilitate the satisfaction or settlement of such complaints. Banking ombudsman scheme free download as word doc. Later it was legally refined and modified through the introduction of regulations under banking ombudsman scheme 2006. The reserve bank hereby directs that all commercial banks, regional rural banks and scheduled primary cooperative banks shall comply with the banking ombudsman scheme, 2006 as amended hereby.
Banking ombudsman scheme 2006 the rbi first introduced the banking ombudsman scheme. What does the banking ombudsman scheme, 2006 offer. The banking ombudsman scheme 2006 reserve bank of india. The banking ombudsman scheme, 2006 enables resolution of complaints of bank customers relating to certain services rendered by banks. After merger of the bank with another bank in 2001, the said card was converted to. Banking ombudsman scheme 2006, as amended up to february 3, 2009, is in operation. The banking ombudsman scheme 2006 annual report 201011. The banking ombudsman scheme is introduced under the banking regulation act, 1949 by rbi with effect from 1995. The banking ombudsman scheme bos, a flagship program of the reserve bank. The banking ombudsman is a senior official appointed by the rbi to. February 3, 2009, reserve bank of india hereby amends the banking ombudsman scheme 2006 to the extent specified in the annex hereto. The modified scheme, the banking ombudsman scheme, 2006, came into effect from january 1, 2006 with the following major changes. The reserve bank of india, hereby directs that all commercial banks, regional rural banks and scheduled primary cooperative banks shall comply with the banking ombudsman scheme, 2006 as amended hereby.
Includes complaints relating to misselling and mobile electronic banking. Accordingly, joining fees along with applicable service tax. Short title, commencement, extent and application 1 this scheme may be called the banking. Banking ombudsman scheme banks deposit account scribd. The reserve bank of india has widened the scope of its banking ombudsman scheme 2006, to include, inter alia, deficiencies arising out of sale of insurance mutual fund other third party investment products by banks. The cost of running the scheme is fully borne by the rbi.
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