Banking Ombudsman Scheme
- The RBI notified the Banking Ombudsman Scheme, 1995 on June 14, 1995
- To provide for a system of redressal of grievances against banks
- Currently, there are 15 Banking Ombudsmen with specific jurisdiction
covering the 29 States and seven Union Territories in India.
- Since January 2006, the BOS is fully financed and administered by the
RBI and its serving officers in the rank of Chief General Managers and
General Managers are posted as Banking Ombudsmen.
- It looks into a wide range of complaints pertaining to deficiency in
banking service rendered by Scheduled Commercial banks, Scheduled
Primary Urban Co-operative banks and the Regional Rural banks.
- Currently, there are 27 grounds on which customers can approach the
Banking Ombudsman mentioning deficiency in banking services.
