Banking Awareness Quiz

Banking Awareness Quiz – Set 292: Quiz on Integrated Ombudsman Scheme 2021 of RBI. This set contains 10 important questions based on Integrated Ombudsman Scheme 2021. These Banking Awareness sets will guide you in all banking exams like IBPS Clerk, IBPS PO, SBI Clerk, SBI PO, RRB Clerk and PO and other promotional banking exams as well. So attempt this Integrated Ombudsman Scheme 2021 set now.

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1. The Integrated Ombudsman Scheme, 2021 of the Reserve Bank of India, has been formed by combining how many earlier Ombudsman Schemes?
   A) 2
   B) 3
   C) 4
   D) 5
   
   View answer

     Option B
   Explanation: he Scheme integrates the existing three Ombudsman schemes of RBI namely, (i) the Banking Ombudsman Scheme, 2006; (ii) the Ombudsman Scheme for Non-Banking Financial Companies, 2018; and (iii) the Ombudsman Scheme for Digital Transactions, 2019.
2. The Integrated Ombudsman Scheme, 2021 will provide cost-free redress of customer complaints involving deficiency in services rendered by entities regulated by RBI, if not resolved to the satisfaction of the customers or not replied within a period of ______ by the regulated entity.
   A) 31 days
   B) 28 days
   C) 25 days
   D) 30 days
   
   View answer

     Option D
   Explanation: 30 days
3. The Integrated Ombudsman Scheme, 2021 of the Reserve Bank of India includes under its ambit Non-Scheduled Primary Co-operative Banks with ______ size of _____ crore and above.
   A) deposit; Rs. 500
   B) asset; Rs. 500
   C) deposit; Rs. 50
   D) asset; Rs. 50
   
   View answer

   Option C
   Explanation: the Scheme also includes under its ambit Non-Scheduled Primary Co-operative Banks with deposit size of ₹50 crore and above.
4. For the purpose of the Integrated Ombudsman Scheme, 2021, RBI has been divided into how many jurisdictions?
   A) 4
   B) 10
   C) 15
   D) None of these
   
   View answer

   Option D
   Explanation: The concept of jurisdiction has been done away with. The Scheme adopts ‘One Nation One Ombudsman’ approach by making the RBI Ombudsman mechanism jurisdiction neutral.
5. RBI has set up its Centralised Receipt and Processing Centre (CRPC) for Integrated Ombudsman Scheme, 2021 in which city?
   A) Mumbai
   B) Delhi
   C) Pune
   D) Chandigarh
   
   View answer

   Option D
   Explanation: 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.
6. Who would be the Appellate Authority under the Integrated Ombudsman Scheme, 2021?
   A) Governor
   B) Deputy Governor
   C) Executive Director
   D) CGM
   
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   Option C
   Explanation: The Executive Director-in charge of the Consumer Education and Protection Department of RBI would be the Appellate Authority under the Scheme.
7. The toll-free number of ‘Centralised Receipt and Processing Centre’ i.e. 14448 of RBI will be operational in how many languages?
   A) 2
   B) 8
   C) 10
   D) 12
   
   View answer

   Option C
   Explanation: Presently in 10- Hindi, English and in eight regional languages to begin with
8. What is the maximum amount of compensation that the RBI Ombudsman can award?
   A) Rs 10 lakh
   B) Rs 15 lakh
   C) Rs 20 lakh
   D) Rs 25 lakh
   
   View answer

   Option C
   Explanation: the Ombudsman shall have the power to provide compensation up to Rupees 20 lakh
9. What is the maximum amount of compensation for loss of the complainant’s time, expenses incurred and for harassment/mental anguish suffered by the complainant that RBI Ombudsman can award?
   A) Rs 1 lakh
   B) Rs 2 lakh
   C) Rs 1.5 lakh
   D) Rs 2.5 lakh
   
   View answer

   Option A
   Explanation: up to Rupees One lakh for the loss of the complainant’s time, expenses incurred and for harassment/mental anguish suffered by the complainant
10. What is the maximum period of appointment of an Ombudsman or the Deputy Ombudsman of RBI at a time?
    A) 2 years
    B) 3 years
    C) 4 years
    D) 5 years
    
    View answer

    Option B
    Explanation: The appointment of the Ombudsman or the Deputy Ombudsman, as the case may be, shall be made for a period not exceeding three years at a time.

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