Topicwise Banking Awareness Quiz – Set 3 – Banking Ombudsman Scheme, 2006


Hello and welcome to exampundit. Since IBPS PO, Insurance & other Bank PO Exams are nearing, we will be providing regular Topicwise Banking Awareness Quiz for upcoming 2017-2018 Bank Exams.

1. Banking Ombudsman Scheme was introduced under which of
following section of Banking Regulation Act, 1949?
(a) 34 A
(b) 35 B
(c) 36 A
(d) 35 A
(e) 34 B
2. At present, how many Banking Ombudsmen have been
appointed?
(a) 10
(b) 20
(c) 18
(d) 15
(e) 26
3. Which of the following statement about Banking Ombudsman
is wrong?
I. Officially it is known as “Banking Ombudsman Scheme, 2006”.
II. NBFCs are NOT covered under this scheme.
III. All Scheduled Commercial Banks, RRBs, Scheduled Primary
Co-operative Banks and Payments Banks are covered under this scheme.
(a) Only I
(b) Only II
(c) Only III
(d) All are wrong
(e) All are correct
4. What is the maximum period a Banking Ombudsman can be
appointed for?
(a) 5 years
(b) 1 year
(c) 3 years
(d) 4 years
(e) There is no maximum period.
5. Any person may file a complaint with the Banking
Ombudsman on which of the following ground(s)?
I. Refusal to open deposit accounts without any valid reason
for refusal.
II. Less/Excess amount of cash dispensed by ATMs.
III. Wrong reporting of credit information to Credit
Information Bureau.
(a) Only I
(b) Both I & II
(c) Both II & III
(d) Both I & III
(e) All of them
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6. One can file a complaint before the Banking Ombudsman if
the reply is not received from the bank within a period of ________ after the
complaint filed.
(a) 10 days
(b) 15 days
(c) 1 month
(d) 45 days
(e) 2 months
7. What is the maximum amount to be paid by the bank to the
complainant by way of compensation for any loss suffered by the complainant?
(a) ₹1 lakh
(b) ₹10 lakhs
(c) ₹15 lakhs
(d) ₹20 lakhs
(e) ₹25 lakhs
8. The Banking Ombudsman may award compensation not
exceeding ______ to the complainant for mental agony and harassment.
(a) ₹10,000
(b) ₹50,000
(c) ₹75,000
(d) ₹100,000
(e) ₹10,000,000
9. What is the charge for filing the complaint before the Banking Ombudsman?
(a) ₹10
(b) ₹100
(c) ₹50
(d) ₹25
(e) No charges required
10. Which of the following Bank Product is NOT covered under
Banking Ombudsman Scheme?
(a) NEFT
(b) RTGS
(c) Loans
(d) ATM Service
(e) All are covered
Answers:
  1. d
  2. b
  3. c
  4. c
  5. e
  6. c
  7. d
  8. d
  9. e
  10. e

Previous Set: Types of Banks in India

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