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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 4

1. Which regulator regulates insurance business
   a) IRDA
   b) AMFI
   c) SEBI
   d) RBI

    Ans. IRDA

 2. Bank rate is the rate at which
   a) Commercial banks lend to borrowers
   b) RBI lends to banks
   c) Term lending institution lend to borrowers
   d) Scheduled banks accept deposits

    Ans. RBI lends to banks

 3. In which payment system, payment instructions are processed on a continuous basis
   a) NEFT
   b) RTGS
   c) ATM
   d) POS

    Ans. RTGS

 4. A Corp loan granted for short term is treated as NPA, if installments of principal or interest thereon remain overdue for --crop seasons
   a) One
   b) Two
   c) Three
   d) Four

    Ans. Two

 5. Term 'Credit Management' covers
   a) Asset/Laibility Management
   b) Credit Appraisal
   c) Risk Management
   d) All of the above

    Ans. All of the above

 6. Which section of RBI Act, 1934, gives sole power to RBI to issue currency notes
   a) 10
   b) 18
   c) 22
   d) 26

    Ans. 22

 7. Which one is not Public Sector Banks
   a) State Bank of Mysore
   b) RRB sponsored by Nationalised Bank
   c) Indian Overseas Bank
   d) HDFC Bank

    Ans. HDFC Bank

 8. Which instrument comes as a protection for the Importer/Exporter?
   a) Factoring
   b) Guarantees issued by Banks
   c) Letter of Credit
   d) Deferred Payment Guarantee

    Ans. Letter of Credit

 9. A customer deposits some shares, cash and jewellery in the safe deposit locker of a bank.Here role of the bank is
  a) Depositor
  b) Drawee
  c) Lessor
  d) Debtor

   Ans. Lessor 

 10. If the distance between two branches offices of a bank is 500 meters. Which type of network will be used between these two?
  a) WAN
  b) MAN
  C) LAN
  d) FTP

   Ans. LAN

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 3


JAIIB - Principles and Practices of Banking - Practice Set 5

JAIIB - Principles and Practices of Banking - Practice Set 6

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