Question

Consider the following statements about Internal Ombudsman Scheme, 2018 introduced by the RBI.

1. RBI has reviewed the arrangement and issued revised directions under Section 35 A of the Banking Regulation Act, 1949 in the form of ‘Internal Ombudsman Scheme, 2018’

2. All Scheduled Commercial Banks in India having more than ten banking outlets (excluding Regional Rural Banks), are required to appoint IO in their banks.

3. RBI said that bank ombudsmen have to be appointed for a fixed tenure and they must be people from outside the bank

Which of the above statements is/are correct?

a) 1, 2
b) 1, 3
c) 2, 3
d) 1, 2, 3​

Answer 1

Answer:

RBI has reviewed the arrangement and issued revised directions under Section 35 A of the Banking Regulation Act, 1949 in the form of ‘Internal Ombudsman Scheme, 2018’