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What is the Banking Ombudsman Scheme

What is the Banking Ombudsman Scheme

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Banking Ombudsman Scheme , 2006


  1. What is the Banking Ombudsman Scheme?
The Banking Ombudsman Scheme is a prompt and economic forum for bank customers for redressal of complaints relating to certain services provided by the banks. The Banking Ombudsman Scheme is explained under Section 35 A of the Banking Regulation Act, 1949 by RBI with effect from 1995.
  1. Who do you think is a Banking Ombudsman?
The Banking Ombudsman is a senior most official appointed by the Reserve Bank of India to address customer complaints against deficiency in certain banking services.
  1. How many Banking Ombudsmen have been appointed till date and where they are located?
As till date, 20 Banking Ombudsmen have been appointed by the RBI with their offices located mostly in the state capitals.
  1. Which banks are included under the Banking Ombudsman Scheme, 2006?
All Scheduled Commercial Banks, Regional Rural Banks, and Scheduled Primary Co-operative Banks are included under this Scheme.
  1. In which situation one file a complaint with the BO?
One can file a complaint with the BO, if the response is not received from the bank within a period of one month after the concerned bank employee has received one’s complaint, or the bank rejects someone’s complaint, or if the complainant is not satisfied with the response given by the bank.
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