New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    Which among the following is/are the area(s) of

    operation regarding which complaints can be received by the Banking Ombudsman?
    A Sale of mutual funds by banks Correct Answer Incorrect Answer
    B Sale of insurance products by banks Correct Answer Incorrect Answer
    C Mobile banking operations Correct Answer Incorrect Answer
    D Both A and B Correct Answer Incorrect Answer
    E All A, B and C Correct Answer Incorrect Answer

    Solution

    Banking Ombudsman Scheme was introduced in 1995 as per Section 35A of the Banking Regulation Act 1949. Banking Ombudsman can be approached in order to register a complaint against deficiency in certain banking services. All scheduled banks are covered under this scheme. Now, the sale of third party products, complains regarding mobile and online banking services have also been covered under this scheme.

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