question_answer

Many times, we hear about the 'Banking Ombudsman'. What is/are the major roles of same?

I. Banking Ombudsman is a quasi-judicial authority having powers to summon, the banks and the customers both in case of dispute.

II. The Banking Ombudsman are appointed by the President of India and are retired judges of the High or Supreme Courts.

III. The decisions/judgements given by the Banking Ombudsman cannot be taken to any court of justice as their decisions are last in case of bank related problems disputes.

Select the correct answer using the codes given below

A)  Only I                         

B)  Only II

C)  Only III                       

D)  All of these

E)  None of these