INDEX

Ch. No. Content Page No.

Executive Summary

Preface

1. Introduction to Banking 01-09

Types of Banks

Grievance Redressal

2. Introduction to Banking Ombudsman 10-19

Duties, & Functions

Types of Ombudsman

3. Banking Ombudsman Scheme 20-33

4. The Consumer Protection Act, 1986 34-40

5. Banking Ombudsman Scheme, 2006 41-56

6. Difference Between Banking Ombudsman Scheme 57-64

1995, 2002 & 2006

7. Policy for Grievance Redressal in IDBI Bank 65-70

Case Study 71-73

Conclusion 74
 EXECUTIVE SUMMARY

The aim of this project is to introduce the reader to the topic of “THE BANKING
OMBUDSMAN”. The project also deals with the policy adopted by the RBI and
the excess of case laws.

The ability of the banking industry to achieve the socio-economic objectives and
in the process bringing more and more customers into its fold will ultimately
depend on the satisfaction of the customers. Banks have a strong belief that a
satisfied customer is the foremost factor in developing our business.

This project is focused in understanding the essentiality of the Banking

Ombudsman in regards to the public interest and the interest of the banking
policies to enable resolution of complaints related to deficiency in banking
services.

Sensing the need for a easy, expeditious and inexpensive mechanism for redressal
of unresolved grievances of customers, the RBI initially formulated the Scheme of
Ombudsman, 1995, which became operational in June 1995, providing an
institutional and legal framework to bank customers to resolve all their complaint
The scheme is applicable to all scheduled commercial banks having business in
India and scheduled primary co-operative banks except Regional Rural Banks.
Fifteen offices of Banking Ombudsman at important centres were set up to cover
the entire country.

The Banking Ombudsman offers customers the opportunity to resolve disputes

with their banks without needing to resort to the Courts.
 PREFACE

OBJECTIVES

 To present Banking Ombudsman Scheme & how does it works. 


 To present the services of the Banking Ombudsman offered to the customer. 

 To show how the Banking Ombudsman deals with customer complaints. 

 To explain the duties, functions & powers of the Ombudsman. 

METHODLOGY

The methodology includes the information of the features of the Ombudsman in the
form of primary data that had been received from the Branch Managers of the banks
and the officers of the RBI. It also includes the information’s from the related books
& the related websites.