Reserve Financial institution of India
TABLE OF CONTENTS
CHAPTER My spouse and i
1 . Short Name, Commencement, Degree and Application 1
installment payments on your Suspension of the Scheme one particular
3. Meanings 1
ORGANIZATION OF WORKPLACE OF FINANCIAL OMBUDSMAN
4. Appointment & Tenure 3
5. Position of Office and Short-term Headquarters 3
6. Secretariat 3
JURISDICTION, POWERS AND DUTIES OF BANKING INTERMEDIAIRE
7. Capabilities and Jurisdiction 4
PROCEDURE FOR REDRESSAL OF GRIEVANCE
eight. Grounds of Complaint five
9. Procedure for Filing Grievance 7
twelve. Power to Require Information 8
11. Pay out of Complaint by Contract 9
12. Award by Banking Intermediaire 10
13. Rejection with the Complaint 11
14. Appeal Before the Appellate Authority doze
15. Banks to Display Prominent Features of the Scheme 13
for Well known of Public
CHAPTER Sixth is v
sixteen. Removal of Difficulties 14
17. Application of the Banking Intermediaire Schemes, 16
Annexure 'A' -- Form of Problem 15
Annexure 'B' -- Addresses and Area of Operation 18
of Banking Intermediaire
DEPUTY CHIEF EXCUTIVE
THE FINANCIAL OMBUDSMAN PLAN 2006
Ref. CSD. BOS. Number 4736 /13. 01. 01/2008-09 dated February 3, 2009 In workout of the forces conferred simply by Section 35A of the Financial Regulation Act, 1949 (10 of 1949) and in part modification of its Warning announcement Ref. RPCD. BOS. Number 441/13. 01. 01/2005-06 went out with December twenty six, 2005, and CSD. BOS 4638/13. 01. 01/2006-07 out dated May twenty-four, 2007 Arrange Bank of India hereby amends the Banking Intermediaire Scheme 2006 to the level specified inside the Annex hereto. The Hold Bank hereby directs that commercial banking companies, regional countryside banks and scheduled major co-operative banking companies shall conform to the Financial Ombudsman Scheme, 2006 since amended hereby.
2 . The amendments inside the Scheme shall come into push from February 3, 2009 (Usha Thorat)
THE FINANCIAL OMBUDSMAN SCHEME, 2006
The Scheme is introduced together with the object of enabling quality of complaints relating to selected services made by banking companies and to help the fulfillment or pay out of these kinds of complaints.
1 . BRIEF TITLE, BEGINNING, EXTENT AND APPLICATION
(1) This Plan may be known as the Financial Ombudsman Plan, 2006. (2) It shall come into force on this kind of date while the Book Bank may specify. (3) It shall extend to the whole of India.
(4) The Structure shall apply to the business in India of your bank as defined beneath the Scheme.
installment payments on your SUSPENSION IN THE SCHEME
(1) The Book Bank, in case it is satisfied that it is expedient to do, may well by order suspend to get such period as may be specified in the order, the operation coming from all or any from the provisions in the Scheme, possibly generally or in relation to any kind of specified financial institution.
(2) The Reserve Financial institution may, simply by order, extend from time to time, the time of virtually any suspension ordered as aforesaid by this kind of period, mainly because it thinks match. 3. EXPLANATIONS
(1) вЂaward' means a great award handed by the Banking Ombudsman relative to the System.
(2) вЂAppellate Authority' means the Deputy Governor in charge of the Division of the Hold Bank putting into action the System.
(3) вЂauthorised representative' means a person duly appointed and sanctioned by a complainant to act on his behalf and represent him in the procedures under the System before a Banking Intermediaire for account of his complaint. (4) вЂBanking Ombudsman' means any individual appointed beneath Clause 4 of the Plan.
(5) вЂbank' means a вЂbanking company', a вЂcorresponding new bank', a вЂRegional Rural Bank', вЂState Financial institution of India' a вЂSubsidiary Bank' while defined in Section 5 of the Financial Regulation Take action, 1949 (Act 10 of 1949), or possibly a вЂPrimary Co-operative Bank' because defined in clause (c) of Section 56 of the Act and included in the Second Schedule with the Reserve Traditional bank of India Act, 1934 (Act 2 of 1934), having a office in India, whether this sort of bank can be incorporated in India or perhaps outside India.
(6) вЂcomplaint' means...
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