Banking ombudsman scheme is applicable to the business of
Answers
Explanation:
The Banking Ombudsman Scheme is an expeditious and inexpensive forum for bank customers for resolution of complaints relating to certain services rendered by banks. The Banking Ombudsman Scheme is introduced under Section 35 A of the Banking Regulation Act, 1949 by RBI with effect from 1995.
Answer:
Saving Schemes are launched by the Government of India or public sector financial institutions or Banks. They vary in their interest rates, investment horizons and tax treatments. A saving schemes financially prepares us for unforeseen personal and medical emergencies. It helps you meet your personal aspirations and that of your family’s like - additional educational course to supplement your existing qualifications, child’s higher education and marriage, etc. For some, income from saving schemes also serves as an additional source of income.