csr general knowledge today Published this articles page no 519 Customer Redressal Cell creation of a Customer Service Department in 2006 which was recently rechristened as Consumer Education and Protection Department. In order to strengthen the institutional mechanism for dispute resolution the Reserve Bank in the year 1995 introduced the Banking Ombudsman (BO) scheme. The BO is an Alternate Dispute Redressal mechanism for resolution of disputes between a bank and its customers. There are 20 Banking Ombudsman offices in the country at present. The scheme covers grievances of the customers against Commercial Ranks Scheduled Primary Cooperative Banks and Regional Rural Banks. In 2006 the Reserve Bank revised the BO scheme. Under the revised scheme the BO and the staff in the offices of the BO are drawn from the serving employees of the Reserve Bank.csr general knowledge today
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