Banking Ombudsman Scheme, 2006

Description: Banking Ombudsman Scheme, 2006 Quiz
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What is the purpose of the Banking Ombudsman Scheme, 2006?

  1. To provide a speedy and inexpensive forum for resolving complaints against banks.

  2. To regulate the banking sector in India.

  3. To promote financial inclusion in India.

  4. To protect the interests of depositors in banks.


Correct Option: A
Explanation:

The Banking Ombudsman Scheme, 2006 was introduced to provide a speedy and inexpensive forum for resolving complaints against banks. It is an independent and impartial quasi-judicial body that investigates and resolves complaints against banks.

Who is eligible to file a complaint with the Banking Ombudsman?

  1. Any individual or group of individuals who have a banking account with a bank.

  2. Any company or organization that has a banking account with a bank.

  3. Any government department or agency that has a banking account with a bank.

  4. All of the above.


Correct Option: D
Explanation:

Any individual or group of individuals, any company or organization, and any government department or agency that has a banking account with a bank is eligible to file a complaint with the Banking Ombudsman.

What types of complaints can be filed with the Banking Ombudsman?

  1. Complaints related to unauthorized withdrawals from a bank account.

  2. Complaints related to non-payment or delay in payment of a cheque.

  3. Complaints related to refusal of a bank to open an account.

  4. All of the above.


Correct Option: D
Explanation:

The Banking Ombudsman can investigate and resolve complaints related to unauthorized withdrawals from a bank account, non-payment or delay in payment of a cheque, refusal of a bank to open an account, and other banking-related issues.

What is the time limit for filing a complaint with the Banking Ombudsman?

  1. One year from the date of the incident.

  2. Two years from the date of the incident.

  3. Three years from the date of the incident.

  4. There is no time limit.


Correct Option: A
Explanation:

A complaint must be filed with the Banking Ombudsman within one year from the date of the incident giving rise to the complaint.

How can a complaint be filed with the Banking Ombudsman?

  1. By submitting a complaint form online.

  2. By sending a complaint letter to the Banking Ombudsman.

  3. By visiting the Banking Ombudsman's office in person.

  4. All of the above.


Correct Option: D
Explanation:

A complaint can be filed with the Banking Ombudsman by submitting a complaint form online, by sending a complaint letter to the Banking Ombudsman, or by visiting the Banking Ombudsman's office in person.

What is the process for resolving a complaint filed with the Banking Ombudsman?

  1. The Banking Ombudsman will investigate the complaint and issue a decision.

  2. The Banking Ombudsman will mediate between the complainant and the bank to reach a settlement.

  3. The Banking Ombudsman will refer the complaint to the Reserve Bank of India for further action.

  4. All of the above.


Correct Option: D
Explanation:

The Banking Ombudsman can investigate the complaint and issue a decision, mediate between the complainant and the bank to reach a settlement, or refer the complaint to the Reserve Bank of India for further action.

What is the time frame for resolving a complaint filed with the Banking Ombudsman?

  1. 30 days from the date of receipt of the complaint.

  2. 60 days from the date of receipt of the complaint.

  3. 90 days from the date of receipt of the complaint.

  4. 120 days from the date of receipt of the complaint.


Correct Option: C
Explanation:

The Banking Ombudsman is required to resolve a complaint within 90 days from the date of receipt of the complaint.

What is the maximum amount of compensation that the Banking Ombudsman can award?

  1. Rs. 10,000.

  2. Rs. 20,000.

  3. Rs. 30,000.

  4. There is no limit.


Correct Option: D
Explanation:

There is no limit to the amount of compensation that the Banking Ombudsman can award.

What is the Banking Ombudsman Scheme, 2006 not applicable to?

  1. Regional Rural Banks.

  2. Cooperative Banks.

  3. Non-Banking Financial Companies.

  4. All of the above.


Correct Option: D
Explanation:

The Banking Ombudsman Scheme, 2006 is not applicable to Regional Rural Banks, Cooperative Banks, and Non-Banking Financial Companies.

What is the name of the Banking Ombudsman appointed by the Reserve Bank of India?

  1. Shri. Pradeep Kumar.

  2. Shri. N. S. Viswanathan.

  3. Shri. Shaktikanta Das.

  4. Shri. Urjit R. Patel.


Correct Option: A
Explanation:

Shri. Pradeep Kumar is the current Banking Ombudsman appointed by the Reserve Bank of India.

Which of the following is not a function of the Banking Ombudsman?

  1. To investigate complaints against banks.

  2. To mediate between complainants and banks.

  3. To refer complaints to the Reserve Bank of India.

  4. To impose penalties on banks.


Correct Option: D
Explanation:

The Banking Ombudsman cannot impose penalties on banks. This is the function of the Reserve Bank of India.

What is the address of the Banking Ombudsman's office in Mumbai?

  1. Reserve Bank of India, Central Office, Shahid Bhagat Singh Marg, Mumbai - 400 001.

  2. Reserve Bank of India, Fort, Mumbai - 400 001.

  3. Reserve Bank of India, Bandra Kurla Complex, Mumbai - 400 051.

  4. Reserve Bank of India, Nariman Point, Mumbai - 400 021.


Correct Option: A
Explanation:

The address of the Banking Ombudsman's office in Mumbai is Reserve Bank of India, Central Office, Shahid Bhagat Singh Marg, Mumbai - 400 001.

What is the email address of the Banking Ombudsman's office?


Correct Option: A
Explanation:

The email address of the Banking Ombudsman's office is [email protected].

What is the website of the Banking Ombudsman's office?


Correct Option: A
Explanation:

The website of the Banking Ombudsman's office is www.bankingombudsman.rbi.org.in.

What is the toll-free number of the Banking Ombudsman's office?

  1. 1800-22-22-99

  2. 1800-11-22-99

  3. 1800-33-22-99

  4. 1800-44-22-99


Correct Option: A
Explanation:

The toll-free number of the Banking Ombudsman's office is 1800-22-22-99.

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