The Reserve Bank introduces Internal Ombudsman Scheme, 2018 for Scheduled Commercial Banks with more than 10 branches

• The Reserve Bank of India (RBI) asked all scheduled commercial banks with more than 10 branches to appoint an internal ombudsman (IO).
• All Scheduled Commercial Banks in India having more than ten banking outlets (excluding Regional Rural Banks), are required to appoint IO in their banks.
• The internal ombudsman scheme was introduced by the RBI to strengthen the internal grievance of banks and to ensure that the complaints of the customers are redressed.
• The IO shall examine customer complaints which are in the nature of deficiency in service on the part of the bank, that are partly or wholly rejected by the bank
• The implementation of IO Scheme, 2018 will be monitored by the bank’s internal audit mechanism along with the RBI.

Points to remember:

1. Internal Ombudsman Scheme, 2018 introduced for banks with minimum how many branches?
2. RRBs are not covered in this scheme.