Professional Documents
Culture Documents
Banking Ombudsman
Banking Ombudsman
Banking Ombudsman
Road map
A historical perspective Legal basis and scope of the Banking Ombudsman Scheme Vision & Goals Structure and processes Sharing of experiences The way ahead
Backdrop
Growing Public Policy concern Customer dissatisfaction - a topic of discussion in various fora including the floor of Parliament Growing customer expectations with increasing Awareness of rights. The satisfaction levels of customers is the touch stone on which the quality of service is toned. Market discipline issues and need for policy intervention
2002
Commercial banks Scheduled primary cooperative banks RRBs Agreement Award Review BO -By a Selection Committee- Retired personnel Secretary- RBI Deputy Secretary & Staff- SLBC Bank
2006
Commercial banks Scheduled primary cooperative banks RRBs Agreement Award Appeal Serving Chief General Manager/ General Manager Secretary- RBI Deputy Secretary & Staff- RBI
2002
2006
RBI
Prescribed application Prescribed Online/email/by post in writing application in writing Prescribed application not insisted www.bankingombudsman .rbi.org.in
Nature of Complaints
Not specified
Specifically Specifically prescribed prescribed clause clause 8 12 Cases of fraud can Focus on resolution of be handled grievances
VISION
To provide an inexpensive, transparent and credible mechanism ensuring fair treatment of the common person utilizing Banking services
Goals
To ensure customer facilitation and protection through redressal of grievances of users of banking services in an inexpensive, expeditious, fair, reasonable and hassle free manner that will provide impetus for improved customer service on a continuous basis Provide feedback for framing appropriate and timely guidelines Enhance awareness of the scheme itself
Organizational Chart
Deputy Governor (Appellate Authority
Redressal Process
Receipt of complaint
Review by BO
Maintainable
Maintainable Complaints
Referred to Bank
Unresolved Complaints
Complainant to accept & Bank to implement Complainants right to Appeal Bank & Complainant can File an Appeal
Banking Ombudsman
Customer
Bank to Implement
Set aside the award Remand the matter to BO Modify the award Pass any other order
non-acceptance of
or
charging acceptance
commission
for
Excluded
Complaints arising out of frauds and forgery and subjudice cases (Supreme Courts observation that it would not be appropriate for BOs to give a finding on forgery or to form an opinion on cases already referred to courts)
Processes
Proceedings are summary in nature Procedure discretionary as the Banking Ombudsman may consider just and proper Not bound by any rules of evidence Each case is dealt on a stand alone basis and cannot be cited as precedent Disposals take into account evidence, the principles of Banking Law & Practice, instructions, guidelines and directions of RBI Right of the complainant to approach any court or forum at any time during or after the proceedings is not affected
Stages of settlement
The Banking Ombudsman
first endeavours to promote a settlement
or else
proceeds to make an Award on merits of
the case.
Appellation Process
Banks to get the sanction of the Chairman/ CEO Appellate Authority can; Dismiss the appeal Allow the appeal and set aside the award Remand the matter for fresh disposal Modify the award Pass any other order as it may deem fit
Banking Ombudsmen Complaint Monitoring Application on RBIs Secured Internet Website Finance Ministry instructions vide letter dated August 11, 2005 for computerization and online complaint monitoring system for Banking Ombudsman Scheme by September 30, 2005.
Complaint Monitoring Application was successfully tested and hosted on the RBIs Secured Internet Website. It is in operation since September 30, 2005 .
complaint details on the application. The application generates a unique complaint id, which can be used by Banking Ombudsmen, RBI and Finance ministry to monitor/track the status of a particular complaint. Automatic acknowledgement generated on tracking of complaints RBI and Finance Ministry can monitor the overall status of complaints at all the Banking Ombudsmen offices.
Road Ahead
Focus on customer education and financial literacy Customer Awareness and Empowerment Understanding rights and responsibilities Percolation of the spirit of the Banking Code and Standards as adopted by the bank down the rank and file to the level of the service delivery interface
Thank You