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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.

2. 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.

3. 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.

4. 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.

5. 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 someones complaint, or if the complainant is not satisfied with the response
given by the bank.

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6. On what grounds, a complaint can be made to the BO?

The BO can receive and consider any complaint relating to the following inadequacy in
banking services:
non-payment or unreasonable delay in the payment or receiving of cheques, drafts,
bills etc.;
non-payment or inordinate delay in payment ofremittances;
when banks fail to issue or delay in issue of drafts, bankers cheques or pay orders;
When bank employees do not work according to the prescribed working hours;
When banks are not able to provide or there is a delay in providing a banking facility
(apart from loans and advances) promised in writing by a bank official or banks
direct selling agents;
Unnecessary delays, non-credit of proceeds to parties' accounts, non-payment of
deposit or non-adherence to the RBI directives, if any, applicable to rate of interest on
deposits in any savings, current or other account opened with anybank;
Grievances of NRIs having accounts in India in relation to their remittances from
abroad, deposits and other bank related issues;
refusal to open deposit accounts without any valid reason for refusal;
levying of charges without adequate prior notice to the customer;
Banks non-adherence to the instructions of RBI on ATM/Debit Card operations in
India by the bank itself or its subsidiaries
Non-adherence by the bank or its subsidiaries to the instructions of Reserve Bank on
credit card operations
When bank employees do not observe the instructions of RBIwith regard to Mobile
Banking/Electronic Banking service in India.
Non-disbursement or inordinate delay in disbursement of pension (to the extent the
grievance can be attributed to the action on the part of the bank concerned, but not
with regard to its employees);
When banks close depositors bank accounts without due notice or without sufficient
reason;
When banks refuse to close or there is an unreasonable delay in closing the accounts;
When bank officials do not obey the fair practices code as adopted by the bank;
When bank officials do not observe the RBI guidelines on engagement of recovery
agents by banks;
When bank officials do not follow the RBI guidelines relating to para-banking
activities like sale of insurance, mutual funds etc.
Any other issue relating to the non-observance of the directives issued by the Reserve
Bank relating to the banking or other services.

7. Is there any cost involved in filing complaints with Banking Ombudsman?

No, the Banking Ombudsman does not charge any fee for filing and resolving customers
complaints.

8. Is there any limit on the amount of compensation as defined under this scheme?

The amount, if any, to be paid by the bank to the complainant in the form of compensation
for any loss suffered by the complainant is limited to the amount arising directly out of the
act or omission of the bank or 20 lakhs (Two Million), whichever is lower.

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