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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New Zealand wins the 3rd ODI against Pakistan by 43 runs and sweeps the series
Mount Maunganui (New Zealand), Apr 5 (AP): Pakistan ended a disappointing tour of New Zealand on another somber note Saturday, losing the third one-day international by 43 runs.
While Pakistan made a bold effort to chase down New Zealand's total of 264-8, it fell short again and was dismissed for 221 in a match reduced by a wet outfield to 42 overs per side.
New Zealand fast bowler Ben Sears took 5-34, his second five-wicket total in consecutive matches.
Pakistan made a strong start to its chase despite a shocking injury to opener Imam-ul-Haq, who retired hurt in the third over after being struck in the head by a throw at the stumps.
Imam was attempting a quick single when a throw to the non-striker's end lodged in the grill of his helmet. He was clearly dazed and struggled to stand steadily before being helped from the field.
Babar Azam rallied Pakistan after the incident with a half century which, with support from Abdullah Safique (33) and Mohammad Rizwan (37), helped Pakistan to 95-1 at the midpoint of its innings.
With 10 overs remaining, Pakistan was 167-4 and well in the match: New Zealand was 165-4 at the same stage. But New Zealand took 99 runs from the last 10 overs of its innings and Pakistan couldn't match that finish.
Tayyab Tahir made 33 from 31 balls but when he holed out in the 39th over with Pakistan 218-9 the chase was all but over.
Pakistan arrived in New Zealand with a new-look squad, eager to shrug off a disappointing performance at the recent Champions Trophy which it hosted and hoping to build towards next year's T20 World Cup.
But the tourists lost the five-match T20 series 4-1 and lost the first two matches of the three-match ODI series by 73 runs and 84 runs before Saturday's defeat. The Pakistan batters mostly struggled on fast and bouncy New Zealand pitches.
“Obviously it was a disappointing series for us,” Pakistan captain Mohammad Rizwan said. "But if you look at the positives, Babar Azam is in very good touch. Looking at the bowling Sufiyan Muqeem was the guy.
“You have to give credit to New Zealand in all departments. They played very well for the last couple of months. They played well in Pakistan against us and they are true professionals.”
Earlier, opener Rhys Mariu and Michael Bracewell made half centuries and Daryl Mitchell passed 2,000 runs in ODIs as New Zealand batted first after losing the toss.
Mariu posted his maiden half century in his second ODI and went on to make 58 from 61 balls. Mitchell came into the match with 1,998 runs in one-day internationals with finished with 2,041 runs from 52 matches in which he averages 49.7.
Captain Bracewell finished strongly, making 59 from 40 balls.
