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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 Quiz4

1. Mumbai has --- benches in Debt Recovery Tribunal

   a. 2
   b. 3
   c. 4
   d. 5

Ans. 3

2. Demat refers to

   a. process of converting physical shares certificates into an electronic form
   b. Once converted, the shares are held in a Demat account
   c. The shares will become interchangeable, identical and fungible assets after demat
   d. All the above

Ans. All the above

3. Warranties on electronic purchases are examples of ____.

   a. Cross selling
   b. Up selling
   c. Down selling
   d. Side selling

Ans. Up selling

4. The customer information is centralized and the functionality is provided across all products in _____.

   a. Horizontally organized model
   b. Vertically organized model
   c. Predominantly Horizontally organized model
   d. Predominantly Vertically organized model

Ans. Vertically organized model

5. What are the standard retail asset products offered by banks?

   a. Housing Loans
   b. Consumer Durable Loans
   c. Car Loans
   d. a, b and c

Ans. a, b and c

6. Retail Banking is a ……

   a. B2C approach
   b. B2B approach
   c. Either a or b
   d. Neither a not b

Ans. B2C approach

7. The basic information is available across products for common services in this organized process model

   a. Horizontally
   b. Vertically
   c. Predominantly Horizontally
   d. Predominantly Vertically

Ans. Predominantly Vertically

8. Discounting is used to determine

   a. The future value of present cash flows
   b. The present value of future cash flows
   c. Either a or b
   d. None of the above

Ans. The present value of future cash flows

9. Minimum amount due (MAD) is calculated at what % of the total current dues of the credit card.....

   a. 5
   b. 7
   c. 8
   d. 10

Ans. 5

10. In a simple registered mortgage the deed of mortgage is to be registered within …… months of its date of execution

   a. 1
   b. 3
   c. 6
   d. 4

Ans. 4

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