{"id":27666,"date":"2018-10-23T15:26:39","date_gmt":"2018-10-23T09:56:39","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=27666"},"modified":"2018-10-23T15:26:39","modified_gmt":"2018-10-23T09:56:39","slug":"reserve-bank-tightens-ombudsman-scheme","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/reserve-bank-tightens-ombudsman-scheme\/","title":{"rendered":"Reserve Bank tightens ombudsman scheme"},"content":{"rendered":"<p><a href=\"https:\/\/www.thehindu.com\/business\/Economy\/reserve-bank-tightens-ombudsman-scheme\/article24856747.ece\">Reserve Bank tightens ombudsman scheme<\/a><\/p>\n<p><strong><u>News<\/u><\/strong>:<\/p>\n<ol>\n<li>RBI has taken steps to strengthen the grievance redressal mechanism for customers.<\/li>\n<\/ol>\n<p><strong><u>Important Facts:<\/u><\/strong><\/p>\n<p>2. Reserve Bank of India has tightened the Banking Ombudsman Scheme 2018.<\/p>\n<p><u>3. Under the scheme the following recommendation were made with respect to customer:<\/u><\/p>\n<ul>\n<li>Commercial banks having 10 or more banking outlets to have an independent internal ombudsman (IO) to review customer complaint.<\/li>\n<li>Ombudsman will examine customer complaint in case of deficiency in services provided by bank.<\/li>\n<li>However instructions are not applicable for Regional Rural Banks.<\/li>\n<li>Bank to escalate the caseto Internal Ombudsman before giving final decision to complainant (IO)<\/li>\n<li>Customer may not need to approach directly to IO<\/li>\n<\/ul>\n<p><u>4. Features of the scheme includes:<\/u><\/p>\n<ul>\n<li>It will provide appointment\/tenure, roles and responsibilities, procedural guidelines and oversight mechanism.<\/li>\n<li>Fixed term from three to five years for Ombudsmanwhich cannot be renewed.<\/li>\n<li>IOs can only be removed by RBI.<\/li>\n<\/ul>\n<p>5. The implementation of IO Scheme 2018 will be monitored by the bank\u2019s internal audit mechanism apart from RBI.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Reserve Bank tightens ombudsman scheme News: RBI has taken steps to strengthen the grievance redressal mechanism for customers. Important Facts: 2. Reserve Bank of India has tightened the Banking Ombudsman Scheme 2018. 3. Under the scheme the following recommendation were made with respect to customer: Commercial banks having 10 or more banking outlets to have&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/reserve-bank-tightens-ombudsman-scheme\/\">Continue reading <span class=\"screen-reader-text\">Reserve Bank tightens ombudsman scheme<\/span><\/a><\/p>\n","protected":false},"author":61,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[555],"tags":[],"class_list":["post-27666","post","type-post","status-publish","format-standard","hentry","category-test-1","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":"","cached_date":1704769331},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/27666","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/61"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=27666"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/27666\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=27666"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=27666"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=27666"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}