MODULE: 3

MT-307 BANKING CONCEPT and PRACTICES

Topics Covered:

1. Banking Ombudsman

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Banking Ombudsman
 Banking Ombudsman
VISION of Banking Ombudsman:
To provide an inexpensive, transparent mechanism ensuring fair
treatment to the common citizen utilizing banking services.

GOAL of Banking Ombudsman:

Solving of grievances of banking customers
Provide suggestions and feedback to RBI related to:
 Developing guidelines to banks for improving customer services.
 Strengthening the banks for developing their internal Grievance
Readressal System.
 Create awareness about Banking Ombudsman Scheme.
Banking Ombudsman
Banking Ombudsman
Banking Ombudsman
 Benefits of Banking Ombudsman Schemes
 Prompt and impartial resolution of banking complaints.

 No cost to the banking customer.

 Assessment is based on overall fairness, good business

practices, accepting laws and practices.

 Focuses on educating banking customer’s on Financial

Literacy.

 Customer awareness and empowerment.