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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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JAIIB - Principles and Practices of Banking - Practice Set 3



1. Direct Marketing is
   a) 1 level
   b) Zero level
   c) 2 level
   d) Multi level

   Ans. Zero level

 2. Close Ended Fund issued by
   a) RBI
   b) Mutual Fund
   c) Banks
   d) Insurance Companies

   Ans. Mutual Fund

 3. Securitisation is a process of aquiring the loans classified as
   a) Bad debts
   b) Performing debts
   c) Non Performing debts
   d) Book debts

   Ans. Non Prforming Debts

 4. For scheduled commercial bank, the Capital Adequacy Ratio is 
   a) 5 %
   b) 7 %
   c) 10%
   d) 9 %

   Ans. 9%

 5. Time taken to convert cash into raw materials, semi finished goods, finished goods and again into cash is known as 
   a) Cash Cycle
   b) Operating Cycle
   c) Trade Cycle
   d) Time Cycle

    Ans. Operating Cycle

6. Bank received a cheque signed by Mr. Tyagi as a director of XYZ company, who has expired. The bank
   a) cannot honour the cheque
   b) can honour the cheque
   c) can honour the cheque only after obtaining confirmation of other directors
   d) Bank should cancel the cheque

    Ans. can honour the cheque

 7. Banks's assets are classified into three classes as standard, substandard, doubtful and loss assets, based on the recommendation of committee
  a) Tandon
  b) Ghosh
  c) Rangrajan
  d) Narshimhan

   Ans. Ghosh

 8. Apex institution that handles refinance for agriculture and rural development is
  a) SBI
  b) RBI
  c) SIDBI
  d) NABARD

   Ans. NABARD

 9. Banking Regulation Act, 1949 deals with
  a) The control over the management of banking companies
  b) Regulation of banking companies
  c) Suspension and winding up of banking companies
  d) b & C

   Ans. b & C

 10 . Under the RBI act, 1934, it is the sole authority to issue coins/currency notes of denominations of
  a) One Rupee Note
  b) One Rupee Coin
  c) Fifty Paise Coin
  d) Currency Notes of Rs. 2 and Above

   Ans. Currency Notes of Rs. 2 and Above
Find More Quiz Below

 JAIIB - Principles and Practices of Banking - Practice Set 1

JAIIB - Principles and Practices of Banking - Practice Set 2


JAIIB - Principles and Practices of Banking - Practice Set 4

JAIIB - Principles and Practices of Banking - Practice Set 5

JAIIB - Principles and Practices of Banking - Practice Set 6

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