Banking Ombudsman definition

Banking Ombudsman means any person appointed under Clause 4 of the Scheme
View Source
Banking Ombudsman means any person appointed under clause 4 of the Scheme. (5) “bank” means a “banking company”, a “corresponding new bank”, a “Regional Rural Bank”, “State Bank of India” a “Subsidiary Bank” as defined in section 5 of the Banking Regulation Act, 1949 (Act 10 of 1949), or a “Primary Co-operative Bank” as defined in clause (c) of section 56 of that Act and included in the Second Schedule of the Reserve Bank of India Act, 1934 (Act 2 of 1934), having a place of business in India, whether such bank is incorporated in India or outside India. (6) “complaint” means a representation in writing or through electronic means containing a grievance alleging deficiency in banking service as mentioned in clause 8 of the Scheme. (7) “Reserve Bank” means the Reserve Bank of India constituted by Section 3 of the Reserve Bank of India Act, 1934 (2 of 1934). (8) “the Scheme” means the Banking Ombudsman Scheme, 2006. (9) “Secretariat” means the office constituted as per sub-clause (1) of clause 6 of the Scheme. (10) “settlement” means an agreement reached by the parties either by conciliation or mediation under clause 11 of the Scheme. CHAPTER II Establishment Of Office Of Banking Ombudsman Appointment and tenure.—(1) The Reserve Bank may appoint one or more of its officers in the rank of Chief General Manager or General Manager to be known as Banking Ombudsmen to carry out the functions entrusted to them by or under the Scheme. (2) The appointment of Banking Ombudsman under the above Clause may be made for a period not exceeding three years at a time. Location of office and temporary headquarters.—(1) The office of the Banking Ombudsman shall be located at such places as may be specified by the Reserve Bank. (2) In order to expedite disposal of complaints, the Banking Ombudsman may hold sittings at such places within his area of jurisdiction as may be considered necessary and proper by him in respect of a complaint or reference before him. Secretariat.—(1) The Reserve Bank shall depute such number of its officers or other staff to the office of the Banking Ombudsman as is considered necessary to function as the Secretariat of the Banking Ombudsman. (2) The cost of the Secretariat shall be borne by the Reserve Bank. CHAPTER III Jurisdiction, Powers And Duties Of Banking Ombudsman Powers and jurisdiction.—(1) The Reserve Bank shall specify the territorial limits to which the authority of each Banking Ombudsman appointed under clause 4 of the Scheme shall extend. (2) The Banking ...
View Source

Examples of Banking Ombudsman in a sentence

  • We are also a member of the Banking Ombudsman Scheme, which as an approved dispute resolution scheme.

  • Complaints may be directed to the scheme at: Banking Ombudsman Freepost 218002, PO Box ▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇, Wellington 6146 0800 805 950 The Banking Ombudsman Scheme will not charge a fee to any complainant to investigate or resolve a complaint.

  • If you’re still unhappy after we’ve reviewed your complaint, and the Agreement is a consumer credit contract for the purposes of the Credit Contracts and Consumer Finance Act 2003, then you may want to refer the matter to the Banking Ombudsman.

  • For more details on Banking Ombudsman you can visit: ▇▇▇▇▇://▇▇▇▇▇▇.

  • The Banking Ombudsman offers a free, independent dispute resolution service that may help investigate or resolve your complaint.

  • If we cannot resolve your complaint or you are not satisfied with the resolution we propose, you can contact the Banking Ombudsman Dispute Resolution Scheme (which is an approved scheme under the Financial Service Providers (Registration and Dispute Resolution) Act 2008).

  • Westpac NZ is a member of the Banking Ombudsman Dispute Resolution Scheme.

  • If you’re still unhappy after we’ve reviewed your complaint, and the Agreement is a consumer credit contract for the purposes of the Credit Contracts and Consumer Finance ▇▇▇ ▇▇▇▇, then you may want to refer the matter to the Banking Ombudsman.

  • A Participant does not have the right to inspect any document of the Company or the Banking Ombudsman except as provided by law or authorised by the Company.

  • The Banking Ombudsman may order a money award to a Borrower, which may adversely affect the value at which the Mortgage Loans could be realised and accordingly the ability of the Covered Bond Guarantor to make payments under the Covered Bond Guarantee and may have an adverse effect on BNZ and its businesses and operations.

Related to Banking Ombudsman

  • International banking institution means an international financial institution of which the United States is a member and whose securities are exempt from registration under the Securities Act of 1933.

  • Ombudsman means the Company Ombudsman of AllianceBernstein, or any of his/her staff members.

  • Mobile Banking Service means the EB Services which we enable you to access via the Mobile Banking App or a web browser designed for use on a Mobile Device; and

  • Zurich Banking Day means a day on which banks are open in the City of Zurich for the settlement of payments and of foreign exchange transactions.

  • banking institution means a bank, bank and trust company, trust company, savings bank, private bank, or a national banking association, organized and doing business under the provisions of any law of this state, or of any other state of the United States, or under the provisions of any law of the United States of America.