THE BANKING OMBUDSMAN SCHEME 2006 (As Amended - February, 2009)
Notification
Ref.CSD.BOS.No. 4736 /13.01.01/2008-09
February 3, 2009
In exercise of the powers conferred by Section 35A of the Banking Regulation Act, 1949 (10 of 1949) and in partial modification of its Notification Ref.RPCD.BOS.No.441/13.01.01/2005-06 dated December 26, 2005, and CSD.BOS 4638/13.01.01/2006-07 dated May 24, 2007 Reserve Bank of India hereby amends the Banking Ombudsman Scheme 2006 to the extent specified in
the Annex hereto. The Reserve Bank hereby directs that all commercial banks, regional rural banks and scheduled primary co-operative banks shall comply with the Banking Ombudsman Scheme, 2006 as amended hereby.
The amendments in the Scheme shall come into force from February 3, 2009
(Usha Thorat )
Deputy Governor
THE BANKING OMBUDSMAN SCHEME, 2006
The Scheme is introduced with the object of enabling resolution of complaints relating to certain services rendered by banks and to facilitate the satisfaction or settlement of such complaints.
CHAPTER I
PRELIMINARY
1. SHORT TITLE, COMMENCEMENT, EXTENT AND APPLICATION
2. SUSPENSION OF THE SCHEME
3. DEFINITIONS
CHAPTER II
ESTABLISHMENT OF OFFICE OF BANKING OMBUDSMAN
4. APPOINTMENT & TENURE
5. LOCATION OF OFFICE AND TEMPORARY HEADQUARTERS
6. SECRETARIAT
CHAPTER III
JURISDICTION, POWERS AND DUTIES OF BANKING OMBUDSMAN
7. POWERS AND JURISDICTION
CHAPTER IV
PROCEDURE FOR REDRESSAL OF GRIEVANCE
8. GROUNDS OF COMPLAINT
9. PROCEDURE FOR FILING COMPLAINT
10. POWER TO CALL FOR INFORMATION
11. SETTLEMENT OF COMPLAINT BY AGREEMENT
12. AWARD BY THE BANKING OMBUDSMAN
13. REJECTION OF THE COMPLAINT
14. APPEAL BEFORE THE APPELLATE AUTHORITY:
15. BANKS TO DISPLAY SALIENT FEATURES OF THE SCHEME FOR COMMON KNOWLEDGE OF PUBLIC.
CHAPTER V
MISCELLANEOUS
16. REMOVAL OF DIFFICULTIES
If any difficulty arises in giving effect to the provisions of this Scheme, the Reserve Bank may make such provisions not inconsistent with the Banking Regulation Act, 1949 or the Scheme, as it appears to it to be necessary or expedient for removing the difficulty.
17. APPLICATION OF THE BANKING OMBUDSMAN SCHEMES, 1995 AND 2002
The adjudication of pending complaints and execution of the Awards already passed, before coming into force of the Banking Ombudsman Scheme, 2006, shall continue to be governed by the provisions of the respective Banking Ombudsman Schemes and instructions of the Reserve Bank issued thereunder
FORM OF COMPLAINT (TO BE LODGED ) WITH THE BANKING OMBUDSMAN
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