banking sector

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lav mishra

lav mishra (Querist)
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04 April 2011 Is sbi comes under banking ombudsman scheme, 2006?

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)
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05 April 2011 Mishra ji,

The Banking Ombudsman Scheme, 1995 was notified by RBI on June 14, 1995 in terms of the powers conferred on the Bank by Section 35A of the Banking Regulation Act, 1949 (10 of 1949) to provide for a system of redressal of grievances against banks. The Scheme sought to establish a system of expeditious and inexpensive resolution of customer complaints. The Scheme is in operation since 1995 and has been revised during the years 2002 and 2006. The Scheme is being executed by Banking Ombudsmen appointed by Reserve Bank at 15 centres covering the entire country.

As mandated by the Banking Ombudsman Scheme, the Banking Ombudsmen submit an Annual Report on the functioning of their offices every year. Based on such reports, an Annual Report for the Banking Ombudsman Scheme in a whole is prepared at Reserve Bank of India, Central Office. As is being the practice, the Annual Report covers the last five-year period with focus on the current year. Further, as a result of computerization of the functioning of Banking Ombudsman Offices through the Complaint Tracking Software, detailed analysis was possible on the information pertaining to year 2006-07.

With the decision to merge the Banking Ombudsman Offices with that of RBI offices, the accounting period for the Banking Ombudsman Offices was changed from April 1-March 31 to July 1-June 30 to be in congruent with that of RBI offices. Accordingly, the information analysed for the year 2006-07 pertains to the period July 1, 2006 to June 30, 2007.

please noted that it occurs in banking ombudsman scheme, 2006.

for more information :-

https://www.rbi.org.in/Scripts/PublicationsView.aspx?id=10227

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