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There are three options available to complain in the Banking Ombudsman, in case you have any grievance or complaint regarding any mischief or deficiency in banking services. In this article, I will guide you on how to lodge a complaint in Banking Ombudsman. But, before I go-ahead, you need to ensure certain things as follows.
First, you need to ensure that have you filed a complaint to your concerned bank as soon as you face any deficiency or mischief/loss.
“The Banking Ombudsman refers to the senior officials appointed by the Reserve Bank of India (RBI) to resolve the complaints against the certain services rendered by the scheduled commercial banks, RRBs Scheduled Primary Cooperative Banks.”
The Reserve Bank of India may appoint one or two of its officials typically the Chief General Manager or General Manager Rank as a Banking Ombudsman for the period of maximum 3 years.
In this article, we will discuss the difference between bank rate and repo rate. Sometimes the commercial banks or other financial institutions suffer a liquidity crunch (shortage of funds). Hence in such circumstances, banks or financial institutions borrow the funds from the Reserve Bank of India (RBI), the Central Bank of India.
There is plenty of example of Bailment in our day to day life. We borrow our friend’s bike or car or anything for personal uses is an example of Bailment. For the time being, in this article, we will study the difference between bailment and pledge.
But before we go ahead let us first understand the meaning and definition of pledge and bailment in short so that their differences can be grabbed easily.
In this article, we will discuss the difference between CRR and SLR but before I start let us understand some theory behind cash reserve ratio and statutory liquidity ratio.
The Central Bank of India ie. Reserve Bank of India (RBI) regulates the supply of money in the economy through its monetary policy to control the rate of inflation, recession in the economy. Both CRR and SLR are the instruments of monetary policy of RBI which are exercised to control the flow of funds in the market and also to overcome the recession.
