What is appealable clauses of the Ombudsman Scheme?

One can file the appeal against the award or decision of the Banking Ombudsman rejecting the complaint within 30 days of the date of receipt of the Award, The Appellate Authority may, if he/ she is satisfied that the applicant had sufficient cause for not making an application for appeal within time, also allow a …

What is clause 9 3 A?

The Ombudsman may award compensation not exceeding rupees 0.1 million to the complainant for mental agony and harassment. The nature and extent of the loss caused to the complainant; The relief sought for; and. Declaration that the complaint is maintainable under Clause 9(3) of the Scheme.

What is the maximum compensation under the ombudsman scheme for digital transactions?

There are no charges or fees levied by the ombudsman for filing/resolving complaints. Once the complaint is filed, the compensation amount, if any, is given by the ombudsman. It is limited to the amount arising directly out of the act or omission or commission of the service provider or ₹20 lakh, whichever is lower.

What is the maximum limit of compensation the Banking Ombudsman may award?

₹ 1 lakh
The Banking Ombudsman may award compensation not exceeding ₹ 1 lakh (₹ One Hundred Thousand) to the complainant for mental agony and harassment.

How long does RBI take to resolve a complaint?

The banking ombudsman will take between six to eight weeks to resolve the issue. In this period, representatives from the RBI office might also contact you, to confirm the details of your complaint.

What happens if the complaint is not settled by agreement during banking ombudsman process?

If a complaint is not settled by an agreement within a period of one month, the Banking Ombudsman proceeds further to pass an Award. Before passing an award, the Banking Ombudsman provides reasonable opportunity to the complainant and the bank, to present their case.

Who is the appellate authority of banking ombudsman?

the Deputy Governor
The Appellate Authority is the Deputy Governor in charge of the Banking Ombudsman Scheme. 4. The appeal may be filed within 30 days of the date of receipt of communication of Award or rejection of complaint before the Appellate Authority.

How do you raise a complaint against a transaction?

One can file a complaint with the Ombudsman by writing on a plain paper and sending it to the concerned office of the Ombudsman by post/fax/hand delivery. One can also file it by email to the Ombudsman for Digital Transactions.

What is the Banking Ombudsman Scheme 1995?

Banking Ombudsman Scheme, 1995 was notified by the Reserve Bank of India on June 14, 1995 under Section 35 A of the Banking Regulation Act, 1949. The Scheme is administered and funded by the Reserve Bank of India and is applicable to Scheduled Commercial Banks, Scheduled Primary Urban Co-operative Banks and the Regional Rural Banks (RRBs).

What is the subject matter of a banking ombudsman complaint?

The subject matter of the complaint is not pertaining to the grounds of complaint specified under Clause 8 of the Banking Ombudsman Scheme. If the complaint is for the same subject matter that was settled through the office of the Banking Ombudsman in any previous proceedings.

What are the terms of settlement offered by the Ombudsman?

If the terms of settlement (offered by the System Participant) are acceptable in full and final settlement of one’s complaint, the Ombudsman will pass an order as per the terms of settlement which becomes binding on the System Participant and the complainant.

What is the difference between an authorised representative and Banking Ombudsman?

(3) ‘authorised representative’ means a person duly appointed and authorised by a complainant to act on his behalf and represent him in the proceedings under the Scheme before a Banking Ombudsman for consideration of his complaint. (4) ‘Banking Ombudsman’ means any person appointed under Clause 4 of the Scheme.