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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 Quiz2

1. For reverse mortgage loans the age of the applicant should be above

   a. 50 yrs
   b. 55 yrs
   c. 60 yrs
   d. 65 yrs

Ans. 60 yrs

2. The maximum period for Reverse mortgage loan is ……

   a. 10 yrs
   b. 15 yrs
   c. 12 yrs
   d. 20 yrs

Ans. 15 yrs

3. Power of attorney should be......
   a. notarised
   b. registered
   c. notarised and registered
   d. notarised or registered

Ans. notarised or registered

4. The Moratorium period in case of housing loan will be

   a. 12 months
   b. Upto 18 months after the disbursal of Ist disbursement of loan
   c. Three months for completed construction.
   d. Both b and c.

Ans. Both b and c.

5. In the credit information report maximum weightage is given to

   a. payment history
   b. length of credit history
   c. amount owed
   d. Both B & c

Ans. payment history

6. Para banking refers to ……

   a. Distribution of life insurance policies
   b. Distribution of non life insurance policies
   c. Distribution of mutual fund schemes
   d. All the above

Ans. All the above

7. What stands for ANBC ?

   a. Automatic national bank credit
   b. Adjusted national branch credit
   c. Automated net bank credit
   d. Adjusted Net Bank Credit

Ans. Adjusted Net Bank Credit

8. Rate of Interest on Priority sector loans is fixed by :

   a. Govt of India
   b. Board of Directors
   c. NABARD only
   d. RBI

Ans. RBI

9. Which of the following is a direct channel but not a remote channel?

   a. ATM
   b. Branch
   c. Mobile Banking
   d. Internet Banking

Ans. Branch

10. What is correct about rate of interest under DRI scheme ?

    a. 5% below base rate
    b. 7% simple
    c. to be decided by Govt of India presently 6%
    d. 4% simple

Ans. 4% simple

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