From MarketWatch By Robert Powell December 14, 2013 Larry Kotlikoff, a professor at Boston University...
Banking Ombudsman Scheme
(enacted in 2006)
The Banking Ombudsman Scheme of 2006, issued by the Reserve Bank of India, serves to resolve complaints related to services provided by banks.
The scheme includes the following topics:
- Establishment of Office of Banking Ombudsman;
- Jurisdiction, Powers, and Duties of Banking Ombudsman;
- Procedure for Redressal of Grievance; and