Feature Post

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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Banking and Technology

There was time when visiting branch was the only option to do any transaction in bank.But with the advancement of technology, scenario has been changed now. Alternative channels are becoming more popular. People started feeling more comfortable doing transaction through ATM, Internet Banking, Mobile Banking, Telephone Banking rather than by visiting branch. But percentage of people to avail these services is very less. As number of banks are increasing, competition between them is also increasing. Consequently, every bank trying to attract customer through providing lucrative better, faster and wide variety of services. But all these possible only due to advancement in technology. Thanks to people those are involved and doing good in technology development. But to reach out to wide area of population, awareness need to be made in parallel of technology development and technology adoption. Then only use of technology in banking will be useful.

 Although with the adoption of technology, banks are now able to provide better services to customers and able to reduce cost and also able to manage huge transaction volume. Risk also has been increased with many fold that need to be addressed to keep trust of bank and banking services among customers.  

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