11. The Banking Ombudsman shall _____ any information or document that may come into his knowledge or possession in the course of discharging his duties.
1. Maintain Confidentiality
2. Disclose to public
3. Disclose to Bank customers
4. All the above
5. None of the above
Option “1” is correct. The Banking Ombudsman shall maintain confidentiality of any information or document that may come into his knowledge or possession in the course of discharging his duties and shall not disclose such information or document to any person excepts with the consent of the person furnishing such information or document.
12. Which of the following Banks are not covered under the Banking Ombudsman Scheme?
Option “4” is correct. Institutions covered under the Banking Ombudsman Scheme are: All Scheduled Commercial Banks, Regional Rural Banks (RRBs) and Scheduled Primary Co-operative Banks (UCBs) are covered under the Scheme.
13. Total how many Banking Ombudsman centers are there as of October 2021?
1. 20
2. 19
3. 21
4. 22
5. None of the above
Option “4” is correct. There are in total 22 Banking Ombudsman office. The latest one is at New Delhi. The 22 centers are located in different cities viz. Ahmedabad, Bengaluru, Bhopal, Bhubaneswar, Chandigarh, Chennai, Guwahati, Hyderabad, Jaipur, Kanpur, Kolkata, Mumbai (I), Mumbai (II), New Delhi (I), New Delhi (II), New Delhi (III), Patna, Thiruvananthapuram, Dehradun, Ranchi, Raipur, and Jammu.
14. Which city has maximum number of Offices (centers) of Banking Ombudsman?
1. New Delhi
2. Mumbai
3. Kolkata
4. Chennai
5. Hyderabad
Option “1” is correct. There are in total 22 Banking Ombudsman office. The latest one is at New Delhi. The 22 centres are located in different cities viz. Ahmedabad, Bengaluru, Bhopal, Bhubaneswar, Chandigarh, Chennai, Guwahati, Hyderabad, Jaipur, Kanpur, Kolkata, Mumbai (I), Mumbai (II), New Delhi (I), New Delhi (II), New Delhi (III), Patna, Thiruvananthapuram, Dehradun, Ranchi, Raipur, and Jammu.
15. An appeal against the decision of the Banking Ombudsman can be made to Appellate Authority within ___ days from the date of receipt of award
1. 30
2. 45
3. 60
4. 90
5. Can’t make an appeal
Option “1” is correct. An appeal against the award or the decision of the Banking Ombudsman rejecting the complaint may be brought within 30 days of the date of receipt of the award.
16. Which of the following option is correct regarding Banking Ombudsman?
1. It is specified under Clause 8 of the Banking Ombudsman Scheme 2006
2. This Scheme was adopted by RBI with effect from 1995
3. The Scheme includes all Scheduled Commercial Banks, Regional Rural Banks (RRBs) and Scheduled Primary Co-operative Banks (UCBs)
4. 22 Banking Ombudsmen have been appointed, as at current.
5. None of the above
Option “4” is correct. The RBI has introduced the Banking Ombudsman Scheme to correct customer complaints about many forms of banking services offered by banks and to enhance the resolution of those complaints. Under the Banking Regulation Act of 1949, the Scheme was adopted by RBI with effect from 1995. Later, with the implementation of legislation under the 2006 Banking Ombudsman Program, it was legally refined and updated. In 2017, the most recent revision was made. The Scheme includes all Scheduled Commercial Banks, Regional Rural Banks (RRBs) and Scheduled Primary Co-operative Banks (UCBs). It is specified under Clause 8 of the Banking Ombudsman Scheme 2006. 22 Banking Ombudsmen have been appointed, as at current.
17. Which of the following banks are covered under the Banking Ombudsman scheme, 2006?
1. Scheduled Commercial Banks.
2. Regional Rural Banks.
3. Scheduled Primary Co-Operative Banks.
4. All of these.
5. Both (1) and (2).
Option “4” is correct. All Scheduled commercial banks, Regional Rural Banks and Scheduled Primary Co-Operative banks are covered under the Banking Ombudsman scheme. 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. The Banking Ombudsman is the senior official appointed by the RBI. One can file a complaint in front of 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.
18. Customer can lodge a complaint to Banking Ombudsman through
1. Postal Application
2. Email
3. Online application
4. All the above
5. Only a and c
Option “4” is correct. · The customer can lodge a complaint by postal, e-mail, online to the Banking Ombudsman on the complaint of any officer and employee of the bank and for not receiving the services in time. This free complaint is resolved within thirty days. Non-Resident Indians having accounts in India can also lodge a complaint with him. · The orders passed by the Banking Ombudsman are not final and are then shared with Appellate Authority who gives the decision according to appeal. Appellate Authority is the Deputy Governor in charge of the Department of the Reserve Bank implementing the Scheme. · 22 regional offices of the Banking Ombudsman in India are being operative.
19. The orders passed by Banking Ombudsman are binding on the parties based on ____ authority of the Ombudsman
1. Judicial
2. Quasi Judicial
3. Arbitrator
4. Espionage
5. None of the above
Option “2” is correct. ‘Banking Ombudsman’ is appointed by the Reserve Bank of India who is a quasi-judicial authority. The orders passed by the Banking Ombudsman are final and binding on the parties concerned.
20. With reference to the institution of Banking Ombudsman in India, which one of the statements is not correct?
1. The Banking Ombudsman is appointed by the Reserve Bank of India
2. The Banking Ombudsman can consider complaints from Non-Resident Indians having accounts in India
3. The orders passed by the Banking Ombudsman are final and binding on the parties concerned
4. The service provided by the Banking Ombudsman is free of any fee
5. None of the above
Option “3” is correct. · The orders passed by the Banking Ombudsman are final and binding on the parties concerned. Banking Ombudsman is an autonomous independent organization that monitors the services provided by banks. · The Banking Ombudsman Scheme was implemented in 1995, amendments were made in 2002 and 2006 to expand the scope of the scheme to provide clean, transparent, non-discriminatory, and responsible banking services by banks. · Under this, a ‘Banking Ombudsman’ is appointed by the Reserve Bank of India who is a quasi-judicial authority.
