Latest Expert Exchange Queries

GST Demo Service software link:
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Popular Search: articles on VAT and GST in India :: ACCOUNTING STANDARD :: VAT Audit :: Central Excise rule to resale the machines to a new company :: due date for vat payment :: list of goods taxed at 4% :: ACCOUNTING STANDARDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ARTICLES ON INPUT TAX CREDIT IN VAT :: empanelment :: cpt :: VAT RATES :: TAX RATES - GOODS TAXABLE @ 4% :: TDS :: form 3cd
Latest Circulars »
 RBI-Reporting and Accounting of Central Government Transactions of March 2018
  Sources of Variation in Foreign Exchange Reserves in India during April-December 2017
 Sources of Variation in Foreign Exchange Reserves in India during April-December 2017
 Developments in India’s Balance of Payments during the Third Quarter (October-December) of 2017-18
 Submission of returns by the Government-owned Non-Banking Financial Companies
 Agency commission payable to banks for operating Special Deposit Scheme (SDS)
 Directions under Section 35A of the Banking Regulation Act, 1949 (AACS) – Sanmitra Sahakari Bank Maryadit,
 Banking Regulatory Powers Should Be Ownership Neutral (Urjit R. Patel, Governor, Reserve Bank of India – March 14, 2018 – Inaugural Lecture : Centre for Law & Economics, Centre for Banking & Financial Laws Gujarat National Law University, Gandhinagar)
 50 LPA-OPening Very Urgent Chief Financial Officer (cfo)
 RBI Working Paper No. 2/2018 : Non-Linear, Asymmetric and Time-Varying Exchange Rate Pass-Through: Recent Evidence from India
 Discontinuance of Letters of Undertaking (LoUs) and Letters of Comfort (LoCs) for Trade Credits

RBI amends Banking Ombudsman Scheme: Includes Complaints relating to Misselling and Mobile/ Electronic Banking
June, 24th 2017

The Reserve Bank of India has widened the scope of its Banking Ombudsman Scheme 2006, to include, inter alia, deficiencies arising out of sale of insurance/ mutual fund/ other third party investment products by banks. Under the amended Scheme, a customer would also be able to lodge a complaint against the bank for its non-adherence to RBI instructions with regard to Mobile Banking/ Electronic Banking services in India.

The pecuniary jurisdiction of the Banking Ombudsman to pass an Award has been increased from existing rupees one million to rupees two million. Compensation not exceeding rupees hundred thousand can also be awarded by the Banking Ombudsman to the complainant for loss of time, expenses incurred as also, harassment and mental anguish suffered by the complainant.

The procedure for complaints settled by agreement under the Scheme has also been revised. Appeal has now been allowed for the complaints closed under Clause 13 (c) of the existing Scheme relating to rejection which was not available earlier.

The Reserve Bank has released a Notification dated June 16, 2017 amending the Banking Ombudsman Scheme 2006. The amended Scheme shall come into force from July 1, 2017. The amended Scheme is available on the Reserve Bank's website at

Ajit Prasad
Assistant Adviser

Press Release : 2016-2017/3473

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Outsourcing Test Solutions Software Testing Software Bug Testing Software Issues Tracking Software Issue Fix Software Code Optimization Database Design Optimization

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions