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 :
    1. Ahluwalia, M.S. India's Economic Reforms. in INDIA: The Future of Economic Reform. Ed. Cassen, R., Joshi, V. New Delhi: Oxford University Press, 2004 2. Bhattacharya, S., Arunava, L, Pankaj, S.. “The Impact of Liberalisation on Productive Efficiency of Indian Commercial Banks.” European Journal of Operation Research, 98 (1997), 332–45 3. Cho, Y. J. “Korea's Financial Restructuring: Steps Taken and Remaining Challenges.” Working Paper No. 99–07 (1999), Graduate School of International Studies, Sogang University 4. Das, A. “Profitability of Public Sector Banks in India: A Decomposition Model.” RBI Occasional Papers, 20 (1999) 5. D'souza, E. “Prudential Regulation in Indian Banking.” Economic and Political Weekly, 35 (2002), 287–98

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