Question

    Which of the following is NOT correct about Banking

    Ombudsman (BO) Scheme?  i.             It was introduced under Section 35 A of the Banking Regulation Act, 1949 by RBI with effect from 1995. ii.            One can file a complaint with BO after filing complaint with the concerned bank but has not received satisfactory reply from the bank.  iii.           Banking Ombudsman is appointed by Reserve Bank of India iv            Current Banking Ombudsman Scheme introduced in 2008.
    A Only i Correct Answer Incorrect Answer
    B Only ii Correct Answer Incorrect Answer
    C Only iii Correct Answer Incorrect Answer
    D Only iv Correct Answer Incorrect Answer
    E All the above are correct Correct Answer Incorrect Answer

    Solution

    Current Banking Ombudsman Scheme introduced in 2006.

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