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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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Banking Ombudsman



The Reserve Bank had first introduced the Banking Ombudsman Scheme in 1995 to provide prompt and inexpensive forum to bank customers for resolution of their complaints relating to deficiency in banking services in India.

Scope - Customer complaints on credit card complaints, deficiencies in providing the promised services even by banks' sales agents, levying service charges without prior notice to the customer and non adherence to the fair practices code as adopted by individual banks operational in India. 
  • Established by Reserve Bank Of India under section 35A of Banking Regulation Act.
  • Applies to Jammu & Kashmir also
  • Chief General Manager or General Manager is known as Banking Ombudsman
  • There are 21 offices of Ombudsman in India
  • Ground of Complaints - Service & Guidelines of RBI
  • Maximum Award - 20 Lacs
  • In case of Credit Card - Maximum award is 1 lac only
  • Award has to be accepted by Complaint within 30 days.
Latest updates are available at https://www.rbi.org.in/Scripts/bs_viewcontent.aspx?Id=159

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