The Hindu Business Line : Banking ombudsman scheme amended

Mumbai May 25 Bank customers can now appeal against the decision of the Banking Ombudsman if he has rejected the customer's complaint — provided the complaint falls within the matters specified under Banking Ombudsman Scheme.

The Reserve Bank of India has amended the Banking Ombudsman Scheme, 2006 to enable this provision, said an RBI press release.

Before the scheme was amended, the bank customers could appeal only against the awards given by the Banking Ombudsman.

Annual policy

In the Annual Policy for 2007-2008, the RBI had announced that it would amend the scheme to extend the appeal option to the decisions of the Banking Ombudsman.

The Banking Ombudsman Scheme was introduced in 1995 to enable speedy and cost effective resolution of complaints of bank customers relating to deficiency in bank services.

The customers can also now complain to the Banking Ombudsman against deficiency in almost any banking service, including credit cards, after exhausting the channel available with the bank concerned for resolving their complaints.

"The Reserve Bank has appointed 15 Banking Ombudsmen who are located mostly in state capitals under the scheme. The Banking Ombudsman tries to resolve the complaint through conciliation or mediation and even passes an award if it is not resolved through such settlement," said the release.

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