Role of the Banking Ombudsman

What is the Banking Ombudsman?

Key Responsibilities of the Banking Ombudsman

Types of Complaints Addressed by the Banking Ombudsman

Can the Banking Ombudsman Reject Complaints From an Applicant?

How to File a Complaint with the Banking Ombudsman?

Important Points to Remember

Benefits of the Banking Ombudsman

Conclusion

Coming Up Next

Protecting Rights

Handling Complaints

Acts as a Mediator

Taking Action Against Misconduct

Investigating Complaints & Issuing Orders

Promoting Awareness

Non-Payment or Delay in Payments

Failure to Follow RBI Guidelines on Financial Products

Refusal to Open Accounts

Issues with Loan Processing

Non-Credit of Proceeds

Improper Handling of Tax Payments

ATM and Card Operation Failures

Pension Delays

Violation of Fair Practices Code

Unwarranted Fees

Issues with Account Closure

Non-Acceptance of Small Denomination Currency

Closing Accounts Without Notice

Failure to Follow Working Hours

NRI-Related Complaints

Failure to Redeem Government Securities

No Prima Facie Case

Non-Eligible Complaint

Complaint Outside the Time Frame

Alternative Remedies Available

Frivolous Complaints

Bank Not Approached for Redressal

Step 1: Contact Your Bank

Step 2: File a Complaint with the RBI Ombudsman

Step 3: Verify Your Details

Step 4: Submit Your Complaint

Compensation Limit

For Mental Agony

Cost-Free Service

Quick Resolution

Impartiality

Consumer Protection

How Does SEBI Resolve Financial Market Grievances?