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 ...
0

JAIIB - Principles and Practices of Banking - Practice Set 2



1. RBI is popularly known as a lender ………….
 a) To  central Government
 b) To State Government
 c) Of Foreign Currency
 d) Of the last resort 

 Ans.  Of the last resort

 2. Among the following, which one is not a regulator?
 a) RBI
 b) SEBI
 c) AMFI
 d) IRDA

  Ans.  AMFI

 3. KYC means
 a) Know Your Customer very well
 b) Know Your existing Customer very well
 c) Know Your prospective Customer very well
 d) Satisfy yourselves about the customer’s identity and activity.

  Ans.  Satisfy yourselves about the customer’s identity and activity.

 4. A company which pools money from investors and invests in stocks ,       bonds, share is called
 a) bank
 b) An insurance company
 c) Bancassurance
 d) Mutual Fund

  Ans. Mutual Fund

 5. Bancassurance is
 a) An insurance scheme to insure bank deposits
 b) An insurance scheme to insure bank advances
 c) A composite financial service offering both bank and insurance products
 d) A bank deposit scheme exclusively for employees of insurance companies

  Ans. A composite financial service offering both bank and insurance products


6. A decrease in CRR and SLR will ----the liquidity in the banking system
 a) Decrease
 b) Improve
 c) Not Impact
 d) Decrease and improve respectively

 Ans. Improve

 7. The export credit target for foreign banks in India is ---- of ANBC.
 a) 40%
 b) 32%
 c) 12%
 d) 10%

  Ans. 12%

 8.A micro enterprise in the service sector is one where the investment in   equipment does not exceed
 a) 10 lakh
 b) 20 lakh
 c) 30 lakh
 d) 50 lakh
                  
 Ans. 10 lakh

 9. Due date of cheque dated 20/02/2016 is
 a) 20/08/2016
 b) 20/04/2016
 c) 20/05/2016
 d) None

  Ans. None

 10. Hypothecation is applicable in the case of
 a) Immovable Property
 b) Book Debt
 c) Movable Property
 d) Corporate Guarantee
                  
 Ans. Movable Property

Comments

Post a Comment