• ROLE OF OMBUDSMAN IN INDIAN BANKING REFORMS


    Prof Dr. D.Suthamathi and R. Muralidharan


    Designation : Research Supervisor, Department of Management Studies, AVS College of Arts & Science, Salem


    Journal Name : Reserach maGma




    Abstract :
    The Banking Ombudsman is a senior official appointed by the Reserve Bank of India to redress the grievance of banking clientele. The Banking Ombudsman Scheme is introduced under Section 35A of the Banking Regulation Act, 1949. Any individual aggrieved by the decision of the bank can file a grievance, either himself or through his diplomat other than through an advocate. A Banking Ombudsman can accept a complaint on grounds precise under the Ombudsman Scheme, 2006. All Scheduled Commercial Banks, Regional Rural Banks and Scheduled Primary Co-operative Banks are roofed under the Scheme. A banking Ombudsman is a senior officer who is appointed for a period not exceeding three years by the Reserve Bank of India to redress customer complaints against banks for certain grounds provided under the scheme.


    Keywords :
    Banking Ombudsman, Banking Ombudsman Scheme, 2006, Reserve Bank of India


    Reference :
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