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    Question

    Ombudsman act was enacted in the year

    ______
    A 1991 Correct Answer Incorrect Answer
    B 1992 Correct Answer Incorrect Answer
    C 1995 Correct Answer Incorrect Answer
    D 2006 Correct Answer Incorrect Answer
    E 2008 Correct Answer Incorrect Answer

    Solution

    The Banking Ombudsman Scheme is an expeditious and inexpensive forum for bank customers for resolution of complaints relating to certain services rendered by banks. The Banking Ombudsman Scheme is introduced under Section 35 A of the Banking Regulation Act, 1949 by RBI with effect from 1995. Presently the Banking Ombudsman Scheme 2006 (As amended upto July 1, 2017) is in operation.

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