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BANKING OMBUDSMAN AND ITS ROLE

  The Banking Ombudsman is an authority created by the Reserve Bank of India (RBI) to address customer grievances regarding banking services. It provides a cost-free, quick, and impartial resolution process for complaints against banks.  Customers can file complaints if they are dissatisfied with the services of a bank or have not received a satisfactory response from the bank within 30 days of lodging a complaint. Complaints given to Ombudsman Cover  -  Non-payment or delay in payment of cheques, drafts, or bills. Issues related to loans or advances. Non-adherence to fair practices code. Unauthorized debits or service charges. Complaints regarding internet banking or mobile banking. Delay in providing banking services. Unauthorized ATM withdrawals. Wrongful Charges. Ombudsman cannot accept complaints those are  handled by a court, tribunal, or arbitrator. Cases older than one year from the cause of action also do not entertained by Ombudsman.  How to File ...
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Challenges in Banking as a Career

Although banking is very lucrative career but employees have to accept challenges for the same. It is all about finance based. So there is no scope of mistake. As number of competitors is increasing in financial sector, business growth is also looks difficult while all financial institutions are working to grow and making profits. It is linked with global economy also, due to that any changes in global economy may impact business of banks or financial institutions. For instance, banks provide home loans to individuals. If global economy is not good, individual feels not safe in terms of finance and he avoids such loans that ultimately impacts business of banks or financial institution. We have already seen such examples in past couple of years. But for sustainability of banks and financial institution, business is required. That ultimately creates pressure on employees involved in these organizations related operations.  

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