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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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Quick Refernce Guide for CAIIB-Retail Banking Part 1 of 5

1. Business Process Structure in Retail Banking
a.   Horizontally Organized Model – Different process model for different products offering end to end solution product wise.

b.   Vertically Organized Model – Provides functionality across products with customer database orientation and centralized customer data.

c.   Predominantly Horizontally Organized Model – Mostly Product oriented with common customer information for same product.

d.   Predominantly Vertically Organized Model – Common Information is available for most of the products

2.   Segmentation of Customer based on their income levels
Income Levels(Rs. Lakhs)
Customer Segment
2-10
Mass Market
10-50
Mass Affluent
50-400
Super Affluent
400-4000
HNW (High Net Worth)
4000-120000
Super HNW
>120000
Ultra HNW

3.   Maslow’s Theory and Customer needs – Maslow has defined five needs of individuals in their various stages of life. The need start from the basic requirement and move up during the life stage progression.

Sl No
Needs as per Maslow
Banking Product that can be offered to Customer
1
Physiological Needs
Core Banking A/c, Personal Accident cover, Housing Loan.
2
Security /Safety Needs
Reccuring Deposit, Fixed Deposit, Tax Planning Products like Insurance and Mutual Fund, Life insurance Endowment Plan with low premium, long tenor and high maturity amount.
3
Social Needs
Consumer/Personal/Home/Car Loans, ULIP, SIP, Mutual Fund, Retail Gold Coins, Health policies for self and family, loans for professional, Insurance cover to above loans.
4
Esteem Needs
Term Insurance, Spl. Term Deposit, 2nd Housing Loan, Home Improvement and Home décor loan.
5
Self Actualization Needs
Pensioners Loan, Retirement Solution in banking and pension plan in Insurance, Sr. Citizen Term Deposit.


 Part 2       Part 3       Part 4     Part 5

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