Question
The "Internal Ombudsman" in a bank cannot be:
Solution
The Reserve Bank of India (Internal Ombudsman) Directions, 2023, and related internal policies clearly state that the Internal Ombudsman (IO) shall previously not have been employed, nor presently be employed, by the regulated entity or the regulated entity's related parties. This is a key requirement to ensure the independence and objectivity of the Internal Ombudsman in handling customer complaints.
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