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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 ...

JAIIB - Principles and Practices of Banking - Practice Set 1




            1.      Mutual funds are regulated by
(a) Association of Mutual Funds of India (AMFI)
(b) Securities and Exchange Board of India (SEBI)
(c) Reserve Bank of India
(d) None of the above


Ans.  Securities and Exchange Board of India (SEBI)


  1. Maximum Number of members in SHG
(a) 30
(b) 10
(c) 20
(d) 40


Ans.  20




  1. One Directional Communication
(a) Simplex
(b) Duplex
(c) Full Duplex
(d) None


Ans.  Simplex


  1. In case of Saving Account, Banker is
(a) Creditor
(b) Debtor
(c) Privileged Debtor
(d) Privileged Creditor


Ans.  Debtor


  1. What is the CRR currently prescribed by RBI?
(a) 6.75%
(b) 4%
(c) 7%
(d) 5.5%


Ans.  4%


  1. A scheduled commercial bank is one:
(a) Which is included in the Second Schedule of the RBI Act 1934
(b) Which is included in the Banking Regulation Act, 1949
(c) Both (a) and (b)
(d) None of the above


Ans.  Which is included in the Second Schedule of the RBI Act 1934


  1. What is the stipulated share of the priority sector in the net bank credit?
a)   35%
b)   10%
c)   50%
d)   40%


Ans. 40%


  1. What is the current SLR requirement of banks?
a)   50% of the deposits
b)   21.5% of the deposits
c)   20.5% of the deposits
d)   6.75% of the deposits


Ans. 21.5 % of the deposits


  1. Bank Guarantee can be of maximum period
a)   1 year
b)   10 years
c)   More than 10 years
d)   None


Ans. More Than 10 Years


  1. Which is star topology
a)   Gateway
b)   Switch
c)   Router
d)   None


Ans. Switch




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