Q. What is the role of Ombudsman in a bank?
Answer: To provide quality and speedy redressal of grievances of customers.
Notes: The Banking Ombudsman Scheme provides a quick and affordable platform to the bank customers for redressal of complaints related to certain services provided by the banks. The Banking Ombudsman Scheme was introduced by the RBI since 1995 under Section 35A of the Banking Regulation Act, 1949.