Organisation : Axis Bank
Facility : Banking Ombudsman Scheme
Scheme Details : https://www.statusin.in/uploads/20633-bankingombudsmanscheme.pdf
Website : http://www.axisbank.com/
Banking Ombudsman Scheme
The Scheme is introduced with the object of enabling resolution of complaints relating to certain services rendered by banks and to facilitate the satisfaction or settlement of such complaints.
Related : Axis Bank eDGE Loyalty Rewards : www.statusin.in/20630.html
SHORT TITLE, COMMENCEMENT, EXTENT AND APPLICATION :
(1) This Scheme may be called the Banking Ombudsman Scheme, 2006.
(2) It shall come into force on such date as the Reserve Bank may specify.
(3) It shall extend to the whole of India.
(4) The Scheme shall apply to the business in India of a bank as defined under the Scheme.
SUSPENSION OF THE SCHEME :
(1) The Reserve Bank, if it is satisfied that it is expedient so to do, may by order suspend for such period as may be specified in the order, the operation of all or any of the provisions of the Scheme, either generally or in relation to any specified bank.
(2) The Reserve Bank may, by order, extend from time to time, the period of any suspension ordered as aforesaid by such period, as it thinks fit.
DEFINITIONS :
(1) ‘award’ means an award passed by the Banking Ombudsman in accordance with the Scheme.
(2) ‘Appellate Authority’ means the Deputy Governor in charge of the Department of the Reserve Bank implementing the Scheme.
(3) ‘authorised representative’ means a person duly appointed and authorised by a complainant to act on his behalf and represent him in the proceedings under the Scheme before a Banking Ombudsman for consideration of his complaint.
(4) ‘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.
GROUNDS OF COMPLAINT :
(1) Any person may file a complaint with the Banking Ombudsman having jurisdiction on any one of the following grounds alleging deficiency in banking including internet banking or other services.
(a) non-payment or inordinate delay in the payment or collection of cheques, drafts, bills etc.;
(b) non-acceptance, without sufficient cause, of small denomination notes tendered for any purpose, and for charging of commission in respect thereof;
(c) non-acceptance, without sufficient cause, of coins tendered and for charging of commission in respect thereof;
(d) non-payment or delay in payment of inward remittances ;
(e) failure to issue or delay in issue of drafts, pay orders or bankers’ cheques;
(f) non-adherence to prescribed working hours ;
(g) failure to provide or delay in providing a banking facility (other than loans and advances) promised in writing by a bank or its direct selling agents;
(h) delays, non-credit of proceeds to parties’ accounts, non-payment of deposit or non-observance of the Reserve Bank directives, if any, 1 Substituted by Notification Ref CSD.BOS.No. 4736/13.01.01/2008-09 dated February 3, 2009 applicable to rate of interest on deposits in any savings, current or other account maintained with a bank ;
(i) complaints from Non-Resident Indians having accounts in India in relation to their remittances from abroad, deposits and other bankrelated matters;
(j) refusal to open deposit accounts without any valid reason for refusal;
(k) levying of charges without adequate prior notice to the customer;
(l) non-adherence by the bank or its subsidiaries to the instructions of Reserve Bank on ATM/Debit card operations or credit card operations;
(m) non-disbursement or delay in disbursement of pension (to the extent the grievance can be attributed to the action on the part of the bank concerned, but not with regard to its employees);
(n) refusal to accept or delay in accepting payment towards taxes, as required by Reserve Bank/Government;
(o) refusal to issue or delay in issuing, or failure to service or delay in servicing or redemption of Government securities;
(p) forced closure of deposit accounts without due notice or without sufficient reason;
(q) refusal to close or delay in closing the accounts;
(r) non-adherence to the fair practices code as adopted by the bank;
(s)non-adherence to the provisions of the Code of Bank’s Commitments to Customers issued by Banking Codes and Standards Board of India and as adopted by the bank ;
(t) non-observance of Reserve Bank guidelines on engagement of recovery agents by banks; and
(u) any other matter relating to the violation of the directives issued by the Reserve Bank in relation to banking or other services.