Question:
Banking Ombudsman Scheme is a
Banking Ombudsman Scheme is a
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The Banking Ombudsman Scheme was introduced by the RBI to provide a simple, speedy and inexpensive mechanism for resolving customer complaints against banks. It is now integrated into the RBI Integrated Ombudsman Scheme, 2021.
Updated On: Jul 15, 2026
- Digital payment option.
- Unified Payment Interface.
- Platform to pay online tax.
- Grievance redressal mechanism.
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The Correct Option is D
Solution and Explanation
Concept:
The Banking Ombudsman Scheme is a system established by the Reserve Bank of India (RBI) to resolve complaints of bank customers quickly and at low cost.
Step 1: Understand its purpose.
Customers can approach the Banking Ombudsman when they have complaints regarding banking services such as
• Delay in banking services,
• Non-payment or delay in cheque collection,
• ATM or digital banking issues,
• Deficiency in customer service.
Step 2: Analyse the options.
• Digital payment option -- Incorrect.
• Unified Payment Interface (UPI) -- Incorrect.
• Platform to pay online tax -- Incorrect.
• Grievance redressal mechanism -- Correct. \checkmark
Step 3: Final conclusion.
Hence, the Banking Ombudsman Scheme is a \[ \boxed{\text{Grievance redressal mechanism}.} \]
Step 1: Understand its purpose.
Customers can approach the Banking Ombudsman when they have complaints regarding banking services such as
• Delay in banking services,
• Non-payment or delay in cheque collection,
• ATM or digital banking issues,
• Deficiency in customer service.
Step 2: Analyse the options.
• Digital payment option -- Incorrect.
• Unified Payment Interface (UPI) -- Incorrect.
• Platform to pay online tax -- Incorrect.
• Grievance redressal mechanism -- Correct. \checkmark
Step 3: Final conclusion.
Hence, the Banking Ombudsman Scheme is a \[ \boxed{\text{Grievance redressal mechanism}.} \]
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