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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Donald Trump returns to the Oval Office: What are the additions?
Washington, D.C.: Donald Trump, now serving as the 47th President of the United States, has revamped the Oval Office as part of his return to the White House. His modifications include a portrait of Andrew Jackson, a choice previously criticised due to Jackson's history as a slave owner and his role in the forced displacement of Native Americans.
Trump's Oval Office now features portraits of George Washington, Alexander Hamilton, and Thomas Jefferson. The bust of Winston Churchill has been reinstated, while Martin Luther King Jr.'s bust remains in place. A sculpture titled The Bronco Buster by Frederic Remington is positioned under Jackson's portrait. Meanwhile, a bust of Robert F. Kennedy, which was displayed during Joe Biden's presidency, has been removed.
The President has personalised the space with silver eagle figurines, a square paperweight bearing his name, and family photos near the Resolute Desk. The gold curtains from his first term have been retained, replacing Biden’s blue rug with a neutral-coloured one used during Ronald Reagan's presidency.
Trump’s famous "Diet Coke" button, which signals White House staff to serve his favourite beverage, is back on his desk. Outside the Oval Office, Biden’s chocolate chip cookies have been replaced with flowers and a gold paperweight embossed with "Trump."
