Expected Questions on Banking & NBFC Ombudsman Scheme

Hello and welcome to exampundit. Today we are sharing important Expected Questions on Banking & NBFC Ombudsman Scheme. While Banking Ombudsman Scheme was present since 1995, RBI recently announced NBFC Ombudsman Scheme in 2018. These are extremely important for the Bank PO and Clerk exams.

 

 

Expected Questions on Banking Ombudsman Scheme


  1. Banking Ombudsman Scheme was first introduced in India in – 1995
  2. Banking Ombudsman Scheme was introduced under which of following section of Banking Regulation Act, 1949? – 35A
  3. At present, how many Banking Ombudsmen have been appointed? – 20
  4. What is the maximum period a Banking Ombudsman can be appointed for? – 3 years
  5. 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. – 1 month
  6. 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? – ₹20 lakhs
  7. The Banking Ombudsman may award compensation not exceeding ______ to the complainant for mental agony and harassment. – ₹1 lakh
  8. What is the charge for filing the complaint before the Banking Ombudsman? – No Charges
  9. Banking Ombudsman can reject a complaint if the compensation sought from the Banking Ombudsman is beyond ________. – ₹20 lakhs
  10. One can file the appeal against the award or decision of the Banking Ombudsman rejecting the complaint within _____. – 30 days

Expected Questions NBFC Ombudsman Scheme


  1. The NBFC Ombudsman Scheme is being introduced under which act? – Reserve Bank of India Act, 1934
  2. The NBFC Ombudsman Scheme is being introduced under which section of Reserve Bank of India Act, 1934? – 45L
  3. NBFCs with asset size of _______ come under NBFC Ombudsman Scheme. – ₹100 crore
  4. As on date, how many NBFC Ombudsman have been appointed? – 4
  5. In which city(s) NBFC Ombudsman have been appointed? – Chennai, Kolkata, New Delhi and Mumbai
  6. What is the maximum amount to be paid by the NBFC to the complainant by way of compensation for any loss suffered by the complainant? – ₹10 lakhs
  7. The NBFC Ombudsman may award compensation not exceeding ______ to the complainant for mental agony and harassment. – ₹1 lakh
  8. One can file appeal against the award or the decision of the NBFC Ombudsman rejecting the complaint, within _______. – 30 Days

Get the other Expected Banking Awareness Questions from here.

 

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