Banking Ombudsman/ बैंककिंग लोकपाल

 Banking Ombudsman scheme is a forum where you can file complaints related
to certain banking services.
 Banking Ombudsman is a senior official appointed by the Reserve Bank of
India to redress customer complaints against deficiency in certain banking
services.
 Chief General Manager of RBI and General Manager of RBI is appointed as a
banking ombudsman in the country.
 Tenure of Banking Ombudsman = 3 years
 Banking Ombudsman/ बैंककिंग लोकपाल
 Banking Ombudsman scheme was introduced Under Section 35-A of the
Banking Regulation Act 1949 by RBI WEF 14 June 1995 and it was revised in
2002 and 2006.
 All Scheduled Commercial Bank, RRB , Co- Operative Bank are covered under
the Banking Ombudsman Scheme.
 Total Banking Ombudsman Offices = 21
 Banking Ombudsman deals with matters less than or equal to Rs.20 lakhs.
 Banking Ombudsman/ बैंककिंग लोकपाल

 Banking Ombudsman can order the Bank to Pay additional fines (up to Rs.1

lakh) for the mental harassment caused to the customer.

 Decision given by Banking Ombudsman is called award.

 Banking Ombudsman does not charge any fee for filing and resolving customers’

complaints.
 Banking Ombudsman/ बैंककिंग लोकपाल
How to approach Banking Ombudsman
• A person is unhappy with the Bank for certain reason but he can not approach
directly to banking ombudsman.
• 1st He has to given written complaint to the concerned bank that I have so and so
problem.
• If the Bank does not deal with customer complaint with in 1 month then he can
approach to Banking Ombudsman.
• You cannot approach Banking Ombudsman if the matter is older than 1 year.
 Banking Ombudsman/ बैंककिंग लोकपाल
How to approach Banking Ombudsman
• If the complainant is not satisfied with the order passed by the Banking Ombudsman.
• He can approach the appellate authority against the banking ombudsmen’s decision’.
• The “appellate authority” is the Deputy Governor of the Reserve Bank of India.
 NBFC Ombudsman/ एनबीएफसी लोकपाल
• Scheme is introduced under Section 45 L of the Reserve Bank of India Act, 1934,
with effect from February 23, 2018.
• The offices of the NBFC Ombudsmen is functioning at four metro centres viz.
Chennai, Kolkata, Mumbai and New Delhi and will handle complaints of
customers in the respective zones.
• The compensation amount which can be awarded by the NBFC Ombudsman is
limited to one million (10,00,000).
• NBFC Ombudsman may award compensation not exceeding rupees 0.1 million
(1,00,000) to the complainant for causing mental agony and harassment.
NBFC Ombudsman/ एनबीएफसी लोकपाल