N. S. Toor Solutions for Chapter: Banking Law and Practice, Exercise 33: TEST YOUR SELF

If a bank wants to go in for appeal against decision of Ornbudsrnan, whose permission in the bank is required?

Which of the following type of complaint regarding loans cannot be lodged by the customer with the Ombudsman:

Ombudsman scheme has been formulated by RBI under the provisions of _____.

A complaint that is made to Ombudsman should not relate to an issue: 
(a) already settled by Ombudsman 
(b) pending with a court 
(c) already decided by a court 
(d) where the limitation period has expired.

Which of the following options is correct?

In case of credit cards, the Ombudsman can order compensation, as part of the Award for actual loss max Rs.1 lac. (True /false)

Ombudsman plays the role of Arbitrator while settling the customer complaint under Ombudsman scheme (true / false).

Details of unimplemented awards (for more than 3 months) are to be placed before the Board of Directors of the bank. (True/ False)

Ombudsman can allow additional compensation to a customer up to Rs.1 lac for expenses, mental agony etc (True / false):