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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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Retail Banking Quiz1

1. Public sector banks in India follow the model of ……

   a. Departmental approach
   b. Strategic Business Unit approach
   c. Integrated approach
   d. all the above

Ans. Departmental approach

2. Securitisation Process involves the following :

   a. The lender first selects the assets they want to securitise.
   b. The issuer (Special Purpose Vehicle) makes payment to the lender       for the loans securitised.
   c. The assets are converted into a pool of securities by the issuer       for the purpose of issuing Pass Through Certificate (PTC) and the       PTCs are sold to other investors who are willing to invest.
   d. All the above.

Ans. All the above.

3. BCSBI codes are reviewed after every …… years.

   a. 2
   b. 3
   c. 4
   d. 5

Ans. 3

4. Returns are more in ……

   a. para banking
   b. corporate banking
   c. Retail Banking
   d. all the above

Ans. Retail Banking

5. By applying Rule 72, rupee will double in 8 years if the rate of    interest is …… % p.a.

   a. 18%
   b. 9%
   c. 8%
   d. 6%

Ans. 9%

6. The form which serves as a data base for cross selling of different    products in banks

   a. account opening form
   b. KYC form
   c. credit card form
   d. none of these

Ans. KY Form

7. Alternet Channels in retail banking refers to ……

   a. ATMs
   b. Internet Banking
   c. Mobile Banking
   d. All the above

Ans. All the above

8. EMI Reset is applicable in case of

   a. Fixed loan borrowers.
   b. Floating rate borrowers
   c. Both A & B
   d. none

Ans. Floating rate borrowers

9. Marketing Mix refers to ……

   a. Product & Price
   b. Promotion & Place
   c. People & Process & Physical evidence
   d. All the above.

Ans. All the above

10. Recovery of loans through Lok Adalats can be resorted to by banks     upto a limit of ……

    a. Rs.2 lacs
    b. Rs.5 lacs
    c. Rs.10 lacs
    d. Rs.20 lacs

Ans. Rs.10 lacs

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