Banking Ombudsman

Banking Ombudsman

An institution that receives and deals with disputes related to banking and financial services. Examples of complaints an ombudsman might handle include non-payment of a check and refusal to honor a duly issued letter of credit. Banking ombudsman services exist in countries like the United Kingdom and India, though other nations have similar organizations.
References in periodicals archive ?
He has written to the senior management of the bank and filed a complaint with the banking ombudsman. This old man will sincerely advise the aggrieved not to attach the remotest hope of justice from the bank or even banking ombudsman.
SARGODHA -- The President of Pakistan has approved the recovery of over Rs.17 million in favour of University of Sargodha, while upholding the Banking Ombudsman's decision against a private bank where the previous university administration had invested over Rs.775 million by manipulating interest rates allegedly in connivance with bank officials.
Early last year, the current university management had filed a complaint with the Banking Ombudsman pointing out misappropriation in three consecutive investments made in 2015 with the private bank's university branch.
Islamabad -- The President of Pakistan has approved the recovery of over Rs.17 million in favour of University of Sargodha, while upholding the Banking Ombudsman's decision against a private bank where the previous university administration had invested over Rs.775 million by manipulating interest rates allegedly in connivance with bank officials.
SARGODHA -- The President of Pakistan has approved the recovery of over Rs17 million in favour of University of Sargodha while upholding the Banking Ombudsman's decision against a private bank where the previous university administration had invested over Rs775 million by manipulating interest rates allegedly with the connivance of bank officials.
The complaints falling under the grounds of complaints of the Banking Ombudsman (BO) Scheme, 2006 and Ombudsman Scheme for NBFCs, 2018 are resolved as per the provisions of Schemes.
With this launch, the processing of complaints received in the offices of Banking Ombudsman (BO) and Consumer Education and Protection Cells (CEPCs) of RBI has now been digitalized.Speaking about the the Complaint Management System, Shaktikanta Das said that the application "symbolizes RBI's commitment to improve customer experience in grievance redressal process by ensuring timely resolution of complaints received at the Reserve Bank."
Global Banking News-May 8, 2019--India's banking ombudsman focusing on settlement
BANKING AND CREDIT NEWS-May 8, 2019--India's banking ombudsman focusing on settlement
M2 EQUITYBITES-May 8, 2019--India's banking ombudsman focusing on settlement
ISLAMABAD -- Chairman Senate Mohammad Sadiq Sanjrani Thursday directed the government to halt process of the Banking Ombudsman's appointment on the objections of Senator Barrister Mohammad Saif.
According to Banking Ombudsman Scheme, a free and independent dispute resolution service, scammers try to trick customers into giving out personal information such as bank account numbers, passwords and credit card numbers.