Friday, June 12, 2015

Day 53 - Questions

Day 53 - Banking Ombudsman

( Banking Ombudsman )

Recommended Study links - (Go through these topics before attempting MCQs)

1.  The purpose of Banking Ombudsman is -
a.  credit resolution of individuals
b.  customer complaints resolution
c.  forex management
d.  human resource management of banks

2.  Which of the following banks are covered under the Banking Ombudsman scheme?
a.  Scheduled Commercial Banks (SCBs)
b.  Regional Rural Banks (RRBs)
c.  Scheduled Primary Cooperative Banks
d.  All of the above

3.  Which of the following is true regarding Banking Ombudsman?
a.  Ombudsman scheme is first introduced in 1995 under Section 35A of Banking Regulation Act, 1949
b.  Ombudsman is a quasi-judicial authority, who has legal power to summon both the parties (bank and its customer) to facilitate the resolution of complaint through mediation
c.  Currently, there are 15 Banking Ombudsmen offices in India
d.  All are true

4.  If a customer is not satisfied with the resolution provided by Ombudsman, he can approach -
a.  Governor of RBI
b.  Deputy-governor of RBI
c.  CMD of respective banks
d.  Finance Minister of India

5.  Which of the following needs to be satisfied before filing a complaint in Ombudsman scheme?
a.  One month passes after filing complaint in bank
b.  Bank rejects the complaint of the customer
c.  Customer is not satisfied with the reply from the bank
d.  Any of the above

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