Frequently Asked Questions (FAQs)
Q.1. What does the Banking Ombudsman Scheme (the Scheme) offers the Consumers?
The Banking Ombudsman Scheme, 2002 (which has been brought into force w.e.f 14th June 2002), offers the consumers recourse for resolution of;
§ Your complaints, by the Banking Ombudsman, against your bank, in respect of such services of the bank which are stipulated under the Scheme; and
§ Resolution of claim of the bank against you, by the Banking Ombudsman (as an arbitrator), provided that the value of the claim in...
Action against collection/recovery agents
If you are not a defaulter, and your bank, finance company, cell-phone operator is harassing you to extort money through recovery agents then follow these steps:
1) Note down the telephone number from where the call is originating.
2) Try to get the name of caller.
3) If he visits you personally, ask for his identity card of employment in the institution from which you have subscribed the services.
4) If he is not the employee of the institute, you have no liability to deal with him as you have no contract/agreement of service with him.
5) immediately...
