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Banking Ombudsman

 

 

BANKING OMBUDSMAN:

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. The Banking Ombudsman Scheme was first introduced in India in 1995, and was revised in 2002. The current scheme became operative from 1 January 2006, and replaced and superseded the banking Ombudsman Scheme 2002. From 2002 until 2006, around 36,000 complaints have been dealt by the Banking Ombudsmen.

One can file a complaint before the Banking Ombudsman if the reply is not received from the bank within a period of one month after the bank concerned has received one s representation, or the bank rejects the complaint, or if the complainant is not satisfied with the reply given by the bank.

The Banking Ombudsman can receive and consider any complaint relating to the following deficiency in banking services (including internet banking):

non-payment or inordinate delay in the payment or collection of cheques, drafts, bills etc.;
non-acceptance, without sufficient cause, of small denomination notes tendered for any purpose, and for charging of commission in respect thereof;
non-acceptance, without sufficient cause, of coins tendered and for charging of commission in respect thereof;
non-payment or delay in payment of inward remittances ;
failure to issue or delay in issue of drafts, pay orders or bankers’ cheques;
non-adherence to prescribed working hours ;
failure to provide or delay in providing a banking facility (other than loans and advances) promised in writing by a bank or its direct selling agents;
delays, non-credit of proceeds to parties accounts, non-payment of deposit or non-observance of the Reserve Bank directives, if any, applicable to rate of interest on deposits in any savings,current or other account maintained with a bank ;
complaints from Non-Resident Indians having accounts in India in relation to their remittances from abroad, deposits and other bank-related matters;
refusal to open deposit accounts without any valid reason for refusal;
levying of charges without adequate prior notice to the customer;
non-adherence by the bank or its subsidiaries to the instructions of Reserve Bank on ATM/Debit card operations or credit card operations;
non-disbursement or delay in disbursement of pension (to the extent the grievance can be attributed to the action on the part of the bank concerned, but not with regard to its employees);
refusal to accept or delay in accepting payment towards taxes, as required by Reserve Bank/Government;
refusal to issue or delay in issuing, or failure to service or delay in servicing or redemption of Government securities;
forced closure of deposit accounts without due notice or without sufficient reason;
refusal to close or delay in closing the accounts;
non-adherence to the fair practices code as adopted by the bank or non-adherence to the provisions of the Code of Bank s Commitments to Customers issued by Banking Codes and Standards Board of India and as adopted by the bank ;
non-observance of Reserve Bank guidelines on engagement of recovery agents by banks; and
any other matter relating to the violation of the directives issued by the Reserve Bank in relation to banking or other services.

A customer can also lodge a complaint on the following grounds of deficiency in service with respect to loans and advances

non-observance of Reserve Bank Directives on interest rates;
delays in sanction, disbursement or non-observance of prescribed time schedule for disposal of loan applications;
non-acceptance of application for loans without furnishing valid reasons to the applicant; and
non-adherence to the provisions of the fair practices code for lenders as adopted by the bank or Code of Bank’s Commitment to Customers, as the case may be;
non-observance of any other direction or instruction of the Reserve Bank as may be specified by the Reserve Bank for this purpose from time to time.
The Banking Ombudsman may also deal with such other matter as may be specified by the Reserve Bank from time to time.

Link for Compliant Form is as under:

https://secweb.rbi.org.in/BO/precompltindex.htm

For detailed guidelines on Banking Ombudsman, please refer http://rbi.org.in/commonman/English/Scripts/AgainstBank.aspx