Discussion
RBI has expanded the definition of which scheme?
Answer: A
Correct answer: Banking ombudsman scheme
The RBI widened the Banking Ombudsman Scheme, extending its grounds of complaint to cover deficiencies in mobile and electronic banking and mis-selling of third-party products such as insurance and mutual funds through bank branches.
The scheme gives customers a free avenue of redress against banks without recourse to the courts. Extending it to digital channels and to mis-selling reflected where complaints had actually migrated as banking moved online and as banks increasingly distributed products they did not themselves issue.
No comment is present. Be the first to comment.
Loading…
Post your comment
Please log in or register to post a comment.
Examination Categories
- SSC Exams
- Banking Exams
- Teaching Exams
- Civil Services Exams
- Railways Exams
- Engineering Recruitment Exams
- Defence Exams
- State Government Exams
- Police Exams
- Insurance Exams
- Nursing Exams
- Other Government Exams
- NRA CET
- PG Entrance Exams
- Campus Placement
- MBA Entrance Exams
- CUET and UG Entrance
- Judiciary Exams
- Regulatory Body Exams
- Software Development