1. The complaint by the Banking Ombudsman should be made __

1. Oral
2. Writing
3. Both a and b
4. either a or b
5. None of the above

Option “2” is correct.
The complaint by the Banking Ombudsman should be made writing.
2. Under which of the following circumstances Banking Ombudsman may be filed for Para Banking Activities.

1. improper, unsuitable sale of third party financial products
2. non-transparency /lack of adequate transparency in sale
3. non-disclosure of grievance redressal mechanism available
4. delay or refusal to facilitate after sales service by banks
5. All the above

Option “5” is correct.
Non-adherence to Reserve Bank guidelines on para-banking activities like
sale of insurance /mutual fund /other third party investment products by
banks with regard to following:
i. improper, unsuitable sale of third party financial products
ii. non-transparency /lack of adequate transparency in sale
iii. non-disclosure of grievance redressal mechanism available
iv. delay or refusal to facilitate after sales service by banks
3. Which of the following complaints can be received by the Banking Ombudsman?

1. Non-payment or inordinate delay in the payment or collection of cheques, drafts, bills.
2. Non-acceptance, without sufficient cause, of small denomination notes tendered for any purpose, and for charging of commission in respect thereof.
3. Non-acceptance, without sufficient cause, of coins tendered and for charging of commission in respect thereof;
4. Non-payment or delay in payment of inward remittances
5. All the above

Option “5” is correct.
Banking Ombudsman can be filed for:
Non-payment or inordinate delay in the payment or collection of cheques, drafts, bills.
Non-acceptance, without sufficient cause, of small denomination notes tendered for any purpose, and for charging of commission in respect thereof.
Non-acceptance, without sufficient cause, of coins tendered and for charging of commission in respect thereof; non-payment or delay in payment of inward remittances; failure to issue or delay in issue of drafts, pay orders or bankers’ cheques, non-adherence to prescribed working hours; failure to provide or delay in providing a banking facility (other than loans and advances) promised in writing by a bank or its direct selling agents.
4. In respect to Loans and Advances, when can a customer file Banking Ombudsman

1. non-observance of Reserve Bank Directives on interest rates;
2. delays in sanction, disbursement or non-observance of prescribed time schedule for disposal of loan applications;
3. non-acceptance of application for loans without furnishing valid reasons to the applicant; and
4. non-adherence to the provisions of the fair practices code for lenders as adopted by the bank or Code of Bank’s Commitment to Customers
5. All the above

Option “5” is correct.
In respect to Loans and Advances, a customer can file Banking Ombudsman
(a) Non-observance of Reserve Bank Directives on interest rates;
(b) Delays in sanction, disbursement or non-observance of prescribed time schedule for disposal of loan applications;
(c) Non-acceptance of application for loans without furnishing valid reasons to the applicant; and
(d) Non-adherence to the provisions of the fair practices code for lenders as adopted by the bank or Code of Bank’s Commitment to Customers
(e) Non-observance of any other direction or instruction of the Reserve Bank as may be specified by the Reserve Bank for this purpose from time to time.
5. The Complaint can be filed in Banking Ombudsman only when which of the following conditions are fulfilled.

1. Bank has not replied to Complainant within 30days of Complain.
2. Bank has rejected the complaint
3. The complainant is not satisfied with Bank answer.
4. All the above
5. There is no such condition

Option “4” is correct.
One can file a complaint before the Banking Ombudsman if the reply is not received from the bank within a period of one month after the bank concerned has received one’s complaint, or the bank rejects the complaint, or if the complainant is not satisfied with the reply given by the bank.
6. Under What Circumstances will one’s complaint not be considered by the Ombudsman?

1. One has not approached his bank for redressal of his grievance first.
2. One has not made the complaint within one year from the date of receipt of the reply of the bank or if no reply is received, and the complaint to Banking Ombudsman is made after the lapse of more than one year and one month from the date of complaint made to the bank.
3. The subject matter of the complaint is pending for disposal / has already been dealt with at any other forum like court of law, consumer court etc.
4. All the above
5. It cannot be rejected.

Option “4” is correct.
One’s complaint will not be considered if:
· One has not approached his bank for redressed of his grievance first.
· One has not made the complaint within one year from the date of receipt of the reply of the bank or if no reply is received, and the complaint to Banking Ombudsman is made after the lapse of more than one year and one month from the date of complaint made to the bank.
· The subject matter of the complaint is pending for disposal / has already been dealt with at any other forum like court of law, consumer court etc.
· Frivolous or vexatious complaints.
· The institution complained against is not covered under the scheme.
7. Based on whose Commitee recommendations the Banking Ombudsman was reviewed in 2010.

1. Parthasarathi Shome
2. Shivaraman Committee
3. Suma Verma Committee
4. Shri Raghuram Rajan Committee
5. Damodaran Commitee

Option “5” is correct.
The Damodaran Committee was set up in 2010 by RBI to look into banking services rendered to retail and small customers, including pensioners and also to look into the system of grievance redressal mechanism prevalent in banks, its structure and efficacy and suggest measures for expeditious resolution of complaints.
8. The Banking Ombudsman scheme was revised in which year to include regional rural Banks

1. 2005
2. 2002
3. 2017
4. 2009
5. 2015

Option “2” is correct.
The Scheme was revised in 2002 mainly to cover Regional Rural Banks and to permit review of the Banking Ombudsmens’ awards against banks by the Reserve Bank.
9. The compensation that can be awarded by the Banking Ombudsman shall be ____ of the amount involved in the dispute.

1. Exclusive
2. Inclusive
3. Depends on case
4. Depends on Complainant exclusive or inclusive
5. None of the above

Option “1” is correct.
Banking Ombudsman shall not have the power to pass an Award directing payment of an amount towards compensation which is more than the actual loss suffered by the complainant as a direct consequence of the act of omission or commission of the bank, or two million rupees whichever is lower. The compensation that can be awarded by the Banking Ombudsman shall be exclusive of the amount involved in the dispute.
10. The maximum limit of Rs 1 lakh compensation can be awarded for ___

1. Mental Health and Agony
2. Maximum amount of compensation
3. Injury
4. All the above
5. None of the above

Option “1” is correct.
The Banking Ombudsman may award compensation not exceeding 1 lakh (One Hundred Thousand) to the complainant for mental agony and harassment.

74 thoughts on “Banking and NBFC Ombudsman”

  1. Wow, incredible weblog format! How long have you been running a blog for?
    you make blogging look easy. The entire glance of your website is magnificent,
    as well as the content! You can see similar here e-commerce

  2. Howdy I am so glad I found your site, I really found you
    by mistake, while I was searching on Digg for something else,
    Anyhow I am here now and would just like
    to say kudos for a fantastic post and a all round
    thrilling blog (I also love the theme/design), I don’t have time to browse
    it all at the moment but I have saved it and also added
    your RSS feeds, so when I have time I will be
    back to read more, Please do keep up the awesome work.

    I saw similar here: Ecommerce

  3. Howdy! Do you know if they make any plugins to help with Search Engine Optimization? I’m trying to get
    my blog to rank for some targeted keywords but I’m not seeing very good results.
    If you know of any please share. Cheers! You can read similar article here: Sklep

  4. Hey there! Do you know if they make any plugins to help
    with Search Engine Optimization? I’m trying to get my blog to rank
    for some targeted keywords but I’m not seeing very good results.
    If you know of any please share. Kudos! You can read
    similar text here: Sklep online

  5. Hi there! Do you know if they make any plugins to
    assist with SEO? I’m trying to get my blog to rank for some targeted keywords but I’m
    not seeing very good success. If you know of any please share.
    Kudos! You can read similar art here: Sklep

  6. Hey there! Do you know if they make any plugins to
    help with Search Engine Optimization? I’m trying to get my
    website to rank for some targeted keywords but I’m not seeing very good gains.

    If you know of any please share. Appreciate it! You can read similar article here:
    Hitman.agency

  7. Hello there! Do you know if they make any plugins to help with SEO?
    I’m trying to get my site to rank for some targeted keywords but I’m not seeing very good results.
    If you know of any please share. Thank you! You can read similar art here: Scrapebox List

  8. Hi! Do you know if they make any plugins to assist with Search Engine Optimization? I’m trying to get my blog to rank for some targeted
    keywords but I’m not seeing very good gains. If you know of any please share.
    Appreciate it! You can read similar text here: List of Backlinks

  9. Wow, incredible blog format! How long have you been running a blog
    for? you make blogging glance easy. The entire look
    of your web site is fantastic, as neatly as the content material!
    You can see similar here ecommerce

  10. Hi! Do you know if they make any plugins to help with SEO?
    I’m trying to get my blog to rank for some targeted keywords but I’m
    not seeing very good success. If you know of any
    please share. Thanks! You can read similar article here: Choose escape room

  11. I have been surfing online greater than three hours today, but I never found any fascinating article like yours. It is pretty value enough for me. Personally, if all website owners and bloggers made excellent content material as you probably did, the internet will likely be much more helpful than ever before!

  12. Hello! Do you know if they make any plugins to assist with Search Engine Optimization? I’m trying to
    get my website to rank for some targeted keywords but I’m not seeing very
    good success. If you know of any please share.

    Appreciate it! I saw similar article here

  13. An intriguing discussion is worth comment. I believe that you need to write more on this issue, it might not be a taboo matter but typically people don’t speak about these issues. To the next! Many thanks!

  14. This is a topic which is near to my heart… Thank you! Exactly where can I find the contact details for questions?

  15. This is the right site for anyone who wishes to find out about this topic. You understand so much its almost tough to argue with you (not that I really would want to…HaHa). You definitely put a brand new spin on a subject that’s been discussed for many years. Wonderful stuff, just great.

  16. After looking over a number of the articles on your blog, I truly appreciate your way of blogging. I book-marked it to my bookmark site list and will be checking back in the near future. Please check out my website as well and tell me how you feel.

  17. The very next time I read a blog, I hope that it does not disappoint me just as much as this particular one. After all, Yes, it was my choice to read, but I truly believed you would have something useful to talk about. All I hear is a bunch of whining about something that you can fix if you were not too busy looking for attention.

  18. Hi! I could have sworn I’ve visited this site before but after going through a few of the articles I realized it’s new to me. Anyhow, I’m certainly pleased I discovered it and I’ll be book-marking it and checking back often!

  19. Having read this I thought it was very enlightening. I appreciate you taking the time and energy to put this information together. I once again find myself spending way too much time both reading and posting comments. But so what, it was still worthwhile!

  20. Your style is so unique in comparison to other people I’ve read stuff from. I appreciate you for posting when you’ve got the opportunity, Guess I’ll just bookmark this blog.

  21. Spot on with this write-up, I seriously believe this website needs much more attention. I’ll probably be back again to read more, thanks for the advice.

  22. Aw, this was a very good post. Taking a few minutes and actual effort to produce a top notch article… but what can I say… I procrastinate a whole lot and don’t manage to get nearly anything done.

  23. Your style is so unique compared to other folks I have read stuff from. I appreciate you for posting when you’ve got the opportunity, Guess I will just book mark this site.

  24. Oh my goodness! Incredible article dude! Thanks, However I am encountering troubles with your RSS. I don’t know the reason why I can’t join it. Is there anyone else getting similar RSS problems? Anyone that knows the solution will you kindly respond? Thanx!

  25. Greetings! Very useful advice in this particular post! It is the little changes that produce the most important changes. Many thanks for sharing!

  26. I blog frequently and I seriously appreciate your information. The article has really peaked my interest. I’m going to book mark your site and keep checking for new information about once per week. I opted in for your Feed as well.

  27. Way cool! Some very valid points! I appreciate you writing this article and the rest of the site is extremely good.

  28. Way cool! Some extremely valid points! I appreciate you writing this article plus the rest of the site is extremely good.

  29. Greetings, I do think your web site might be having web browser compatibility issues. Whenever I take a look at your web site in Safari, it looks fine however, when opening in IE, it has some overlapping issues. I simply wanted to give you a quick heads up! Aside from that, fantastic site.

  30. Great information. Lucky me I found your site by accident (stumbleupon). I have saved as a favorite for later!

  31. Your style is very unique in comparison to other folks I have read stuff from. Many thanks for posting when you have the opportunity, Guess I’ll just bookmark this page.

  32. Oh my goodness! Incredible article dude! Many thanks, However I am going through troubles with your RSS. I don’t understand why I can’t subscribe to it. Is there anyone else getting similar RSS problems? Anybody who knows the solution can you kindly respond? Thanx!!

  33. I truly love your website.. Excellent colors & theme. Did you make this site yourself? Please reply back as I’m wanting to create my very own blog and would like to find out where you got this from or exactly what the theme is called. Thanks.

  34. Everything is very open with a very clear description of the issues. It was truly informative. Your website is very helpful. Many thanks for sharing.

  35. Great web site you have here.. It’s hard to find high quality writing like yours these days. I truly appreciate individuals like you! Take care!!

  36. Nice post. I learn something totally new and challenging on blogs I stumbleupon on a daily basis. It’s always exciting to read through content from other writers and practice something from other websites.

  37. Oh my goodness! Awesome article dude! Thank you so much, However I am going through problems with your RSS. I don’t know why I cannot join it. Is there anybody having identical RSS issues? Anyone that knows the solution will you kindly respond? Thanx!

  38. I was very happy to find this site. I wanted to thank you for your time just for this wonderful read!! I definitely loved every bit of it and i also have you saved to fav to see new information in your blog.

  39. After I originally commented I seem to have clicked on the -Notify me when new comments are added- checkbox and now every time a comment is added I get 4 emails with the same comment. Perhaps there is a means you can remove me from that service? Many thanks.

  40. Right here is the perfect website for anybody who really wants to understand this topic. You realize so much its almost tough to argue with you (not that I personally would want to…HaHa). You definitely put a brand new spin on a subject that has been written about for ages. Excellent stuff, just wonderful.

  41. Nice post. I learn something totally new and challenging on sites I stumbleupon every day. It will always be exciting to read articles from other writers and use something from other web sites.

  42. I was excited to uncover this great site. I wanted to thank you for ones time due to this wonderful read!! I definitely appreciated every little bit of it and i also have you book marked to look at new information in your web site.

  43. I truly love your website.. Very nice colors & theme. Did you develop this site yourself? Please reply back as I’m looking to create my very own site and would love to learn where you got this from or exactly what the theme is named. Many thanks.

  44. This is a really good tip particularly to those new to the blogosphere. Brief but very precise information… Appreciate your sharing this one. A must read article!

  45. Excellent web site you’ve got here.. It’s difficult to find high quality writing like yours nowadays. I honestly appreciate people like you! Take care!!

  46. Hello, I do believe your site could be having web browser compatibility problems. When I take a look at your blog in Safari, it looks fine however when opening in I.E., it has some overlapping issues. I just wanted to give you a quick heads up! Apart from that, wonderful blog.

Leave a Comment

Your email address will not be published. Required fields are marked *

Scroll to Top