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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 5 of 5


14.   Annual Depreciation
a.   Straight Line Method – Depreciation is allocated uniformly over life of the property and generally adopted for tax calculation

Annual Depreciation D = C-S/n
        Where C – Original Cost
                   S – Salvage Value
                    n- Building Life (in Years)

b.   WDV (Written Down Value) Method – It is assumed that the property will lose value by a constant percentage of its value at the beginning of the year. The amount of depreciation goes on reducing every year because when depreciation is charged at fixed percentage, the capital value of asset decreases by depreciation charged every year.
                WDV = C (1- p)n
Where C – Original Cost
n- Life in years
p – Percentage


Part 1         Part 2       Part 3       Part 4 
Other Important Topics

RetailBanking  - > Valuation of RealProperty

      YP - Year Purchase

      FSI/FAR (Floor Space Index or Floor SpaceArea)
      Sinking Fund
      Depreciation
Retail Banking – > Lender’s AppraisalProcedure
Moratorium
Powerof attorney
EquatedMonthly Installment (EMI)
Check-offFacility
         Loan Repayment through Post Dated Cheques (PDCs)

Mortgage As Security

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