BANKING OMBUDSMAN SCHEME 2006
Rapper Sean Kingston and mother arrested in Florida: Facing charges of $1M fraud
Rapper and singer Sean Kingston, along with his mother Janice Turner, have been arrested in Florida on charges of committing over a million dollars' worth of fraud. The charges include organized scheme to defraud, grand theft, identity theft, and related crimes. They are accused of stealing money, jewelry, a Cadillac Escalade, and furniture.
Mutual fund houses roll out manufacturing sector-focused schemes; should you bet on this hype?
The buzz around manufacturing sector is driving AMCs to roll out new funds.
Credit card issued without consent? Here is what you can do
Card issuers are restricted from offering unsolicited credit cards and are required to get the customer's prior and explicit authorisation before issuing the card, according to the Reserve Bank of India (RBI) rules.
Trouble with bank and can't find resolution? File a complaint against bank with RBI Ombudsman; who are eligible, when, where to file
RBI Ombudsman: Facing any issue with your bank? First try to solve it by filing a complaint, etc. If it is still not solved you may approach the Reserve Bank of India (RBI) and file a complaint under the 'Banking Ombudsman Scheme'. Read here to know who can file such a complaint and when will such a complaint not be considered.
RBI asks banks to look at setting up central fund to pay internal ombudsmen
RBI advises creating a central fund for internal ombudsman salaries to ensure independence and customer rights protection. The Annual Report highlighted a 68% increase in customer complaints. Challenges in implementation include differing compensation structures, as noted by a senior bank executive.
Don't think OMCs and commodities are strategic buys: Mihir Vora
So, it does not matter to me whether the company has had a profitability track record for the last two-three years or not, provided I have a visibility for the future.
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Axis Bank credit card holders notice fraud transactions: How to block Axis Bank credit card, get money back
Axis Bank credit cards: Many Axis Bank credit card customers have taken to social media to complain about fraudulent activities they have noticed. Here is how to block your Axis Bank credit card, and file a complaint.
Customer complaints with RBI Ombudsman up 68% in 2022-23
Customer complaints with the Reserves Bank Ombudsman increased by 68% in 2022-23. Under RBIOS, the central bank handled 7,03,544 complaints, with public sector banks accounting for 41% and private sector banks accounting for 31% of the complaints.
Three ways to invest in HDFC Bank tax-saving FDs
How to invest in tax-saving FDs: Individuals and Hindu Undivided Families (HUFs) are eligible to open tax-saving bank FDs. You have the choice to open a tax-saving FD either with a bank where you currently maintain a savings account or opt for another bank altogether.
RBI ombudsman scheme can't be reduced to tantalising promise: Delhi HC
The Delhi High Court has criticized the "high-handed approach" of the RBI ombudsman in a complaint against a bank, stating that it erodes public trust. The court emphasized that the Ombudsman Scheme is crucial in resolving consumer complaints against regulated entities and called for a cost-effective and speedy resolution.
BJP banks on votes of women who benefited from welfare schemes in MP
The BJP is heavily relying on women voters in Madhya Pradesh for the upcoming assembly elections. The party is banking on the passage of the Women's Reservation Bill and various welfare schemes implemented by the Centre and the state government. However, the BJP also faces challenges such as anti-incumbency, inflation, high unemployment, and farmer resentment. Despite these challenges, the BJP believes that its welfare schemes have garnered support among women voters.
RBI streamlines Internal ombudsman scheme of banks, other financial institutions to help customers
As per the RBI governor, the consolidation of master guidelines will fine tune the redressal of customers' complaints. In November 2021, the RBI announced the Integrated Ombudsman by merging three different ombudsman schemes. The current announcement deals with streamlining the operational aspect of the ombudsman scheme to make it easier for customers to file complaints.
Uproar in Assam assembly over allegations against CM Himanta Biswa Sarma's wife
Congress MLA Kamalakhya Dey Purkayastha sought to know from the Revenue and Disaster Management Minister Jogen Mohan if the plot of land in Kaliabor area was allotted to Riniki Bhuyan Sarma's company under the state's 'Basundhara' scheme. Riniki Bhuyan Sarma, wife of Assam chief minister is chairperson and Managing Director of Pride East Entertainments Private Limited.
1 crore complaints to banks every year: Know what the RBI panel recommends
A panel set up by the Reserve Bank of India (RBI) has recommended measures to improve customer experience at banks and other regulated entities (REs). The panel suggested an online facility for reporting fraudulent transactions, which would trigger an automatic alert from the victim’s bank to relevant counterparts for blocking the flow of funds. To streamline call centres, REs should provide a dedicated IVRS flow and offer an automated call-back feature to avoid callers repeatedly pressing buttons in an effort to speak to executives. The RBI may establish a RE-agnostic common complaint portal for lodging complaints on a single platform.
What will happen if a bank refuses to exchange, accept deposits of Rs 2,000 banknotes?
People can deposit Rs. 2000 banknotes into their accounts or exchange them for banknotes of other denominations at any bank branch.
Credit bureaus to be brought under RBI's ombudsman
The regulator said there will also be a provision for SMS and email alerts to customers when their credit information is accessed from CICs. The RBI said it will also bring in a time frame for ingestion of data received by CICs from Credit Institutions and disclosures relating to the number and nature of customer complaints received on the website of CICs.
How do I get my money back if I transferred it to the wrong bank account?
Though we take so many precautions when we transfer money, mistakes can happen. Your hard-earned money will go to the wrong account if one digit is replaced by another.
Soon, file complaint against HFCs with RBI’s integrated ombudsman
RBI, in the annual report of ombudsman scheme, said that its consumer education and protection department is working towards extension of the scheme to HFCs. This may be done by March 31, 2023. Last year, the coverage of the integrated ombudsman scheme was extended to credit information companies and the non-scheduled urban cooperative banks with a deposit size of Rs 50 crore or above.
How to file a complaint against RBI regulated entity under the Integrated Ombudsman Scheme
A complaint under the scheme does not hold good unless a written complaint was made to the concerned entity and was wholly or partly rejected by the entity, or the complainant is not satisfi ed with the resolution offered by the entity.
Reserve Bank of India introduces internal ombudsman mechanism for CreditInformation Companies
The directions, issued by the Reserve Bank of India, include the appointment/tenure, role and responsibilities, procedural guidelines, and oversight mechanism for the Internal Ombudsman. All complaints that are partly or wholly rejected by CreditInformation Companies will be reviewed by the IO before the final decision of the CIC is conveyed to the complainant, it said, adding that the IO will not entertain any complaints directly from the members of public.
RBI may establish fraud registry to check bank frauds
"There is no definite timeline for setting up of the fraud registry. At present, we are talking to different stakeholders including different departments like payments and settlement and supervision of RBI," RBI executive director Anil Kumar Sharma revealed.
RBI's move to bring credit information companies into ombudsman scheme expected to quicken redressals
Governor Shaktikanta Das said introduction of the ombudsman scheme has led to a reduction in the time taken to solve consumer problems and expressed hope that it will be a case with CICs as well. CICs will join non-banking finance companies, commercial and co-operative banks under the purview of the scheme that was launched last year.
RBI clarifies on the mode of receipt of complaints under Integrated Ombudsman Scheme
The Reserve Bank of India (RBI) on Wednesday clarified that social media is spreading misinformation concerning the Reserve Bank's Integrated Ombudsman Scheme 2021 (RB-IOS).
How to file complaint under One Nation One Ombudsman scheme of RBI: Here's a step-by-step guide
In case you do not get a resolution within 30 days from the respective entity including its internal ombudsman or you are not satisfied with the resolution provided by them you can escalate your complaint to the integrated Ombudsman under the new scheme.
How the new One Nation One Ombudsman scheme of RBI will work
The current integrated scheme was prepared on the basis of the recommendations of the Committee set up by RBI to Review the Ombudsman Schemes.
Ombudsman scheme to provide cost-free redress of customer complaints: RBI
A centralised receipt and processing centre has been set up at RBI, Chandigarh for receipt and initial processing of physical and email complaints in any language.
PM Modi launches two consumer-centric RBI initiatives
Prime Minister Narendra Modi launches two consumer-centric initiatives by the Reserve Bank of India- the RBI Retail Direct Scheme and the Reserve Bank - Integrated Ombudsman Scheme.
PM Modi to launch RBI's retail direct, integrated ombudsman schemes on Friday
These schemes, to be launched by the prime minister through video-conferencing, are aimed at deepening the debt market and improve customer grievance redressal mechanism.
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