There is no time limit for resolution of complaints under Banking Ombudsman scheme, aimed at seeking redressal of customers’ common complaints against banks.
- Over 9,500 such complaints were pending against various banks.
- The revised 2006 Banking Ombudsman scheme, applicable to all commercial banks, regional rural banks and scheduled primary cooperative banks, provides a forum to customers to seek redressal of their complaints relating to credit cards, house loans, promises given by the banks’ sales agents and delay in delivery of services.
- “No time limit is specified for resolution of complaint under Banking Ombudsman Scheme, 2006”.
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