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Internal Ombudsman Scheme 2018
September 5 , 2018
2068 days
840
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- The Reserve Bank of India (RBI) asked all scheduled commercial banks with more than 10 branches to appoint an Internal Ombudsman.
- All Regional Rural Banks are excluded from its directive.
- An ombudsman is a person officially charged with investigating and addressing public complaints or violation of rights.
- The implementation of IO Scheme-2018 will be monitored by the bank’s internal audit mechanism apart from regulatory oversight by RBI.
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