UPSC General Studies Sample Paper General Studies Sample Paper-7

  • question_answer
    Consider the following statements regarding the Banking Ombudsman.
    1. Banking Ombudsman is appointed by RBI.
    2. Appeal against Banking Ombudsman can be taken to Governor of RBI.
    3. All Scheduled Commercial Banks, Regional Rural Banks and Scheduled Primary Cooperative Banks are covered under Banking Ombudsman Scheme.
    Which of the statement given above is/are correct?

    A)  Only 1             

    B)  1 and 2            

    C)  1 and 3           

    D)  All of these

    Correct Answer: C

    Solution :

    [c] Statements 1 and 3 are correct. The appellate authority is Deputy Governor and not the Governor. If one is not satisfied with the decision passed by the Banking Ombudsman, one can approach the appellate authority against the Banking Ombudsman's decision. Appellate authority is vested with a Deputy Governor of the RBI. One can also explore any other recourse and/or remedies available to him/her as per the law. The bank also has the option to file an appeal before the appellate authority under the scheme.

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