lakhs. The respondent Bank opposed the complaint.
The respondent Bank questioned the jurisdiction of the
Banking Ombudsman to entertain such a complaint. It
contended that ... State Bank of India maintaining
financing ratio of 75:25 between the Bank and the
complainant. The Banking Ombudsman further directed that
the period
reasons best known to the officers of the Bank.
Thereafter, the Complainant approached
the Banking Ombudsman by writing letter dated 12th March, 2001 stating
that ... Bank as well as to this office to enable the bank to proceed further in the matter.
To the aforesaid suggestion of the
Banking Ombudsman
bank
refused to do so through its writing dated October 1, 2015. The first
petitioner lodged a complaint with the Banking Ombudsman on
December ... Order
dated June 13, 2016 passed by the Banking Ombudsman rejecting
the claim of the petitioner. The petitioner carried an appeal which
was dismissed
Bank being satisfied that it is necessary in public interest and in the interest of banking policy to provide for a system of Banking Ombudsman ... banking services, concerning loans and advances and other specified matters, directed commercial banks and scheduled primary co-operative banks to comply with the Banking Ombudsman
with this Scheme.
13. Specific Ambit of Authority - As regards banking services, the Banking Ombudsman's authority will include:
(a) All complaints concerning deficiency ... consultation with Reserve Bank. The Reserve Bank will indicate the shares to be borne by the concerned banks. The Banking Ombudsman shall exercise the powers
Banking
Regulation Act, 1949, the Reserve Bank of India has framed the scheme on 15th
June 1995 called as "The Banking Ombudsman Scheme ... reads
thus:-
"13. SPECIFIC AMBIT OF AUTHORITY:
As regards banking services, the Banking Ombudsman's authority will include:-
(a) ALL COMPLAINTS CONCERNING DEFICIENCY
loan applications of any other directions or instructions of the Reserve Bank, Banking Ombudsman has power to interfere and issue necessary direction ... shown that any direction has been issued by the Reserve Bank that Banking Ombudsman has power to change the entire terms of grant of loan
Bank of India framed a scheme by virtue of the powers conferred under Section 35-A of the Banking Regulation Act (called Banking Ombudsman Scheme ... likely to create precedents to the Bank and banking system, bank should refer the matter to the Reserve Bank of India before contesting
India
Rep., by General Manager
Reserve Bank of India
Fort Glacis, Kamarajar Salai
Chennai - 600001.
2. The Banking Ombudsman
C/o.Reserve Bank of India ... consider complaints relating to the deficiencies in banking or other
services. Clause 10 empowers the Banking Ombudsman to call for the records
from the bank
certain services rendered by Banks and to facilitate settlement of complaints by
banking consumers.
12. The Banking Ombudsman is not a Court. The procedure that ... omission of the bank.
(5) Notwithstanding anything contained in Sub-Clause (4), the
Banking Ombudsman shall not have the power to pass an Award
directing
