According to the text, what happens if complaints related to electronic transactions are not resolved within 90 days?

The customer receives compensation as per RBI norms

The bank apologizes to the customer

The customer's account is frozen

The customer's account is closed

According to RBI, what must banks place before their Boards/ Customer Service Committees along with an analysis of the complaints received?

Complaints from their employees

According to the text, what did RBI integrate into one omnibus Ombudsman Scheme in November 2021?

The Ombudsman Scheme for Non-banking Financial Companies

The Ombudsman Scheme for Digital Transactions

What is the "One Nation One Ombudsman" approach mentioned in the text?

An organizational restructuring

What does CRPC stand for in the context of the Ombudsman Scheme?

Central Receipts and Processing Centre

Central Regulatory and Processing Center

Complaint Resolution and Processing Committee

Customer Relations and Processing Center

Complaints and Resolutions Processing Center

If a regulated entity does not file its written version within the stipulated/extended time, what happens according to the text?

The regulated entity loses the right of appeal

The ombudsman proceeds with mediation

The ombudsman dismisses the complaint

The complaint is escalated to the Supreme Court

What does the Appellate Authority (AA) review before passing its order?

The evidence and parties' arguments

According to the text, which of the following matters will not be covered by the Ombudsman Scheme?

Commercial decisions of a Regulated Entity

Grievances not addressed to the Ombudsman

Disputes between Regulated Entities

According to the text, what powers does the Ombudsman have regarding the closure of complaints?

The power to close all complaints

The power to close only maintainable complaints

The power to close complaints through facilitation

The power to close complaints through mediation

The power to close complaints with fines

What is the maximum compensation for consequential loss, directly out of the act or omission of the bank, according to the text?

Up to the actual loss with a ceiling of Rs. 20 lakh

What must the regulated entity do after receiving the acceptance letter from the complainant regarding the Award?

Comply with the Award and inform the ombudsman

Pay the complainant immediately

What is the purpose of the Banking Ombudsman Scheme introduced in 1995?

To serve as an alternate grievance redress mechanism

To provide financial assistance to customers

What should a bank do if a customer's complaint cannot be resolved at the branch level within a certain timeframe?

Refer it to the Regional/ Zonal Office

If a customer is not satisfied with the bank's response, what action can they take within one year of the communication, according to the text?

Visit the bank branch in person

What is the purpose of placing a statement of complaints before bank Boards/ Customer Service Committees, as advised by RBI?

To provide insight into complaints received

To entertain customer complaints

To maintain regulatory compliance

How does RBI ensure that banks effectively discharge their responsibility regarding the cost of redress of complaints?

By measuring customer satisfaction

In November 2021, what did RBI integrate into one omnibus Ombudsman Scheme, as mentioned in the text?

The Ombudsman Scheme for Non-banking Financial Companies

The Ombudsman Scheme for Digital Transactions

What is the significance of the "One Nation One Ombudsman" approach mentioned in the text?

It provides a single point of contact for grievance redress

It simplifies customer complaints

It encourages competition among ombudsmen

It reduces the number of ombudsmen

According to the text, what does the Ombudsman have the power to address and close?

Complaints settled through facilitation

Complaints related to lending decisions

Complaints involving the employee-employer relationship

What does the Appellate Authority (AA) review before passing its order, as stated in the text?

The evidence and parties' arguments

Module A Unit 19: PPB Grievance Redressal & RBI Integrated

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47 Qs

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Module A Unit 19: PPB Grievance Redressal & RBI Integrated

Quiz

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Professional Development

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Professional Development

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Practice Problem

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Hard

CLD HYDERABAD

Used 2+ times

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47 questions

Show all answers

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

What was the year when the Banking Ombudsman Scheme was introduced?

1995

2000

2010

2015

2020

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

In 2019, what system was introduced for customers to lodge complaints with the Banking Ombudsman?

Customer Support System (CSS)

Complaint Management System (CMS)

Grievance Redressal Platform (GRP)

Resolution Assistance Mechanism (RAM)

Customer Feedback Portal (CFP)

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

According to the Model Policy on Grievance Redressal, how should customers be treated at all times?

Rudely

Fairly

Inconsiderately

Discriminatively

Aggressively

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

What is the maximum number of days within which a complaint should be referred to the Regional/ Zonal Office if it cannot be resolved at the branch level?

7 days

14 days

21 days

30 days

60 days

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

If a customer is not satisfied with the bank's response, they have the right to approach which authority within one year of the communication?

Supreme Court

Regional Office

Customer Service Section, Head Office

Central Bank

Local Police

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

In August 2020, RBI advised authorized Payment System Operators (PSOs) to put in place a system for what purpose?

Online Gaming

Online Shopping

Online Dispute Resolution (ODR)

Online Education

Online Voting

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

What should be provided in SMS and email alerts sent to customers regarding electronic banking transactions to enable them to notify objections?

A "Reply" facility

A "Like" button

A "Share" button

A "Delete" option

A "Print" option

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Module A Unit 19: PPB Grievance Redressal & RBI Integrated

47 questions

What was the year when the Banking Ombudsman Scheme was introduced?

In 2019, what system was introduced for customers to lodge complaints with the Banking Ombudsman?

According to the Model Policy on Grievance Redressal, how should customers be treated at all times?

What is the maximum number of days within which a complaint should be referred to the Regional/ Zonal Office if it cannot be resolved at the branch level?

If a customer is not satisfied with the bank's response, they have the right to approach which authority within one year of the communication?

In August 2020, RBI advised authorized Payment System Operators (PSOs) to put in place a system for what purpose?

What should be provided in SMS and email alerts sent to customers regarding electronic banking transactions to enable them to notify objections?

According to the text, what happens if complaints related to electronic transactions are not resolved within 90 days?

Disputes arising out of lending decisions should be heard and disposed of at which level?

In January 2021, what did RBI put in place to strengthen the grievance redress mechanism in banks?

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