Banking Ombudsman offices: The Banking Ombudsman scheme-, 1995 was notified by RBI on June 14, 1995 in terms fo the power confessed on the Bank by Section 35 A of the Banking Regulations Act 1949 (10 of 1949) to provide for a system of redressal of grievances against banks. The scheme sought to establish a system of expeditions and inexpensive resolutions of customers complaints. The scheme is operation since 1995 and was revised during the year 2002. The scheme is being executed by Banking Ombudsman appointed by RBI at 15 centres covering the entire country.
