Banks with over 10 branches to have ombudsman: RBI
Mumbai, Sep 3 : The Reserve Bank of India (RBI) on Monday asked all scheduled commercial banks with more than 10 branches to appoint an Internal Ombudsman (IO). It, however, excluded Regional Rural Banks (RRB) from the requirement.
"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 RBI said in a release introducing the Internal Ombudsman Scheme, 2018.
The IO mechanism was set up with a view to strengthening the internal grievance redress system of banks and to ensure that the complaints of the customers are redressed at the level of the bank itself, the apex bank said.
With an IO, the redress will be done by an authority placed at the highest level of bank's grievance redressal mechanism. It will minimize the need for the customers to approach other fora for redressal, the RBI said.
As a part of this customer-centric approach, the banking regulator issued revised directions in the form of 'Internal Ombudsman Scheme, 2018' to enhance the independence of the IO and to strengthen the monitoring system.
The IO Scheme will cover appointment, tenure, roles and responsibilities, procedural guidelines and oversight mechanism for the IO, among other things. Its execution will be monitored by the bank's internal audit mechanism apart from regulatory oversight by RBI.
The RBI had, in May 2015, advised all public sector and select private and foreign banks to appoint IOs as an independent authority to review complaints that were partially or wholly rejected by the respective banks.
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Nagaland bypoll: Nearly 20 pc voter turnout recorded in Koridang seat in first two hours
Kohima (PTI): Nearly 20 per cent of 22,382 electors exercised their franchise in Nagaland's Koridang Assembly bypoll in the first two hours of polling on Thursday, officials said.
The voting that commenced at 7 am across all 30 polling stations has so far been peaceful, they said.
The polling will continue till 4 pm.
Security has been significantly tightened across the constituency following violence on April 5 and 6, in which one person died, and several vehicles were damaged.
The byelection was necessitated by the demise of sitting BJP MLA Imkong L. Imchen in November last year.
A total of 22,382 electors, including 11,071 women, are eligible to decide the fate of six candidates in the fray.
The ruling People’s Democratic Alliance (PDA) has fielded BJP nominee Daochier I. Imchen, while the Congress candidate is T. Chalukumba Ao. The National People’s Party (NPP) has nominated I. Abenjang, while the Independent candidates are Imchatoba Imchen, Imtiwapang, and Toshikaba.
Of the 30 polling stations, 13 have been categorised as vulnerable and 17 as critical, prompting deployment of additional security personnel and intensified surveillance measures. Two polling stations have been designated as all-women booths.
Counting of votes is scheduled for May 4.
