Mizos' lack of awareness on banking concerns CS

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Aizawl, Sep 26 (UNI) Mizoram Chief Secretary Haukhum Hauzel today called for more awareness on banking so as to make the best use of them.

Addressing a 'Banking Ombudsman Awareness Meeting' here, Mr Hauzel urged customers of the banks to try to have knowledge about the banking system, the schemes and banking codes to empower themselves and avoid harassment.

He also urged the bank customers to bring their grievances to the concerned redressing authority.

He also urged the bank authorities to bring out a booklet of information for their customers to make the banking procedure transparent to all.

''The impression that the banks are to be used only by the rich and educated people has to be dispelled,'' he said.

He also reiterated his concern that some bank managers in Mizoram still insist on mortgage in certain loan schemes in which the applicants are exempted from security deposit.

He further alleged that the general Mizo public was not aware of various loans offered by different banks due to the bank authorities' refusal to disclose them.

In his keynote address, Banking Ombudsman leader K R Das said the Banking Ombudsman Scheme had been framed by the RBI under Section 35 (A) of Banking Regulation Act.

''The scheme aims to address grievances of thye bank customers which included all kinds of deficiencies in service,'' he said, adding that a fine of upto Rs 10 lakh can be imposed on the defaulters.

He also informed that every branch of banks has to form customer service board and customers grievances redressal cell.

The banking ombudsman awareness campaign was jointly organised by the RBI and Mizoram Consumer Union.


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