| Consider the following statements regarding banking ombudsman Scheme in India: |
| 1. The Banking Ombudsman Scheme was first introduced in India in 1996, and was revised in 2002. |
| 2. The current scheme became operative from 1st January 2006, and replaced and superseded the banking Ombudsman Scheme 2002. |
| 3. Banking Ombudsman is a quasi-judicial authority functioning under India's Banking Ombudsman Scheme 2006, and the authority was created pursuant to the a decision by the Government of India to enable resolution of complaints of customers of banks relating to certain services rendered by the banks. |
| Of these statements |
A) 1, 2 and 3 are correct
B) 2 and 3 are correct
C) 1 and 2 are correct
D) 1 and 3 are correct
Correct Answer: B
Solution :
[b] The Banking Ombudsman Scheme is introduced under Section 35 A of the Banking Regulation Act 1949 by RBI with effect from 1995 and was revised in 2002. The Banking Ombudsman is a senior official appointed by the Reserve Bank of India to redress customer complaints against deficiency in certain banking services. All Scheduled Commercial Banks, Regional Rural Banks and Scheduled Primary Co-operative Banks are covered under the Scheme. Appellate Authority is vested with a Deputy Governor of the RBI
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