Customers can now appeal against Banking Ombudsmens' Decision

Mumbai, May 24(UNI) Customers will now able to appeal against decisions from banking ombudsmen with the Reserve bank of India amending the related schemes today.

The amendment has come in line with the RBI directives in the annual monetary policy.

A Banking Ombudsman ensures speedy and cost effective resolution to customer complaints related to deficiency in banking services including credit cards.

Customers can approach the ombudsmen once denied justice from the concerned banking channels.

Before the amendment, banking customers could appeal only against the awards given by Ombudsmen.

RBI, in its annual monetary policy, had said that based on customer feed back, it would amend the Banking Ombudsman Scheme, 2006, to extend the appeal option also to the decisions'' The RBI had appointed 15 Banking Ombudsmen, who are located mostly in state capitals.

The Banking Ombudsman tries to resolve complaints through conciliation or mediation and even passes an award if it is not resolved through such settlement.

The Banking Ombudsman may reject the complaint if it appears to him made on unreasonable grounds.

UNI