The Banking Ombudsman Scheme 2006 was presented with the protest of empowering determination of grumblings identifying with specific administrations rendered by banks and to encourage the fulfillment or settlement of such objections.

Part I : PRELIMINARY

1. SHORT TITLE, COMMENCEMENT, EXTENT AND APPLICATION

(1) This Scheme might be known as the Banking Ombudsman Scheme, 2006.

(2) It might come into drive on such date as the Reserve Bank may determine.

(3) It should stretch out to the entire of India.

(4) The Scheme should apply to the business in India of a bank as characterized under the Scheme.

2. SUSPENSION OF THE SCHEME

(1) The Reserve Bank, in the event that it is fulfilled that it is convenient so to do, may by request suspend for such period as might be indicated in the request, the operation of all or any of the arrangements of the Scheme, either by and large or in connection to any predefined bank.

(2) The Reserve Bank may, by request, stretch out every once in a while, the time of any suspension requested as previously mentioned by such period, as it supposes fit.

Part II : ESTABLISHMENT OF OFFICE OF BANKING OMBUDSMAN

4. Arrangement and TENURE

(1) The Reserve Bank may choose at least one of its officers in the rank of Chief General Manager or General Manager to be known as Banking Ombudsmen to complete the capacities depended to them by or under the Scheme.

(2) The arrangement of Banking Ombudsman under the above Clause might be made for a period not surpassing three years on end.

5. Area OF OFFICE AND TEMPORARY HEADQUARTERS

(1) The workplace of the Banking Ombudsman might be situated at such places as might be determined by the Reserve Bank.

(2) so as to speed up transfer of grievances, the Banking Ombudsman may hold sittings at such places inside his zone of ward as might be viewed as vital and legitimate by him in regard of an objection or reference before him.

6. SECRETARIAT

(1) The Reserve Bank should depute such number of its officers or other staff to the workplace of the Banking Ombudsman as is viewed as important to work as the secretariat of the Banking Ombudsman.

(2) The cost of the Secretariat should be borne by the Reserve Bank.

Address and Area of Operation of Banking Ombudsman