THE BANKING OMBUDSMAN

 The Banking Ombudsman :-

 The banking ombudsman scheme came into effect in  the world from U.K. in 1986.
this Scheme came into effect from June 15, 1995 in India(revised on 2006,07,08 and 17)
Provide an oppurtunity to the public to reach banking ombudsman for problem against the bank which is not resolved within the 30 days or 1 month
the scheme covers all scheduled bank
Presently there are 20 major center of BOS in India recently in Jammu.

Important points of BOS :-

• The BOS does not charge any fees
• Bos comes under section 35 A of banking regulating act 1949 by RBI
• In 1995 there were eleven grounds of complain but today it is 27 ground of complain
• The RBI may appoint one or more of its officer in the rank of General manager and  cheif general manager as banking ombudsman for 3 years
• The BOS made deal max 20 lakh the Ombudsman can also give to consure up to rupee 1 lakh as compansesation for loss of time expenses mental anguish
• The complain is not made later than 1 year after the complain has received 
• If one is not satisfy with the decision of BOS one can approach to deputy governer of RBI

Internal Ombudsman :-

• The RBI has advised all public sector banks, some private sector banks and foreign banks to appoint an internal ombudsman
• The Internal Ombudsman will be designated as ccso ( Cheif Customer service officer) the ccso will deal maximum 3 lakhs of problem

The ccso should not have bugget in the bank in which he or she appoints as the ccso may present the solution with in 15 days if not problem for worded to BOS.