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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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Atal Pension Yojna (APY)


GOI social security scheme for unorganized sectors workers w.e.f. 01/6/2015

Administrated by

- PFRDA (Pension Fund Regulatory and Development Authority)

- NSPL (National Security Depository Ltd) - Act as CRA(Central Record keeping Agency)

- Institutional framework of NPS utilized for enrolling the subscribers.

Banks - Nodal Agencies

Non Bank i.e NBFC, MFIs- Business facilitators to bank.

Eligibility Criteria & Important Points Regarding APY



1) All the citizens of the country in the unorganized sector.

2) Age 18-40 years

3) Date of the birth proof mandatory

4) Valid mobile number mandatory

5) Open to all bank a/c holders who are not member of any statutory social security scheme.

6) Even they can join but will not get GOI contribution

7) Payment frequency-monthly/quality/half yearly

8) Minimum Contribution - 20 Years

9) Pension Start at - 60th Year

10) Payment Discontinuation - 

After 6 Months - Account will be frozen

        After 12 Months - Account Will be deactivated

        After 24 Months - Account will be closed

11) GOI contribution - 1000/- Rs or 50% of subscribers contribution for 5 years

12) Pension Range - 1000- 5000


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