Banking Awareness Quiz – Set 146

Hello Aspirants,
Welcome to Banking Awareness Quiz in AffairsCloud.com. Here we are creating quiz covering important questions which are common for all the bank exams and other competitive exams.

1. Banking Ombudsman Scheme is introduced under _______ of the Banking Regulation Act, 1949 by RBI with effect from 1995.
   A. Section 35 A
   B. Section 45 A
   C. Section 25 A
   D. Section 15 A
   E. None of these
   
   Answer & Explanation

   A. Section 35 A
   Explanation:
   Banking Ombudsman Scheme is introduced under Section 35 A of the Banking Regulation Act, 1949 by RBI with effect from 1995.
   
   
2. What is the total number of banking ombudsman offices in India?
   A. 15
   B. 16
   C. 14
   D. 18
   E. None of these
   
   Answer & Explanation

   D. 18
   Explanation:
   Total number of banking ombudsman offices in India is 18.
   
   
3. Which of the following banks covered under the Banking Ombudsman Scheme, 2006?
   A. Scheduled Commercial Banks
   B. Regional Rural Banks
   C. Scheduled Primary Co-operative Banks
   D. All of these
   E. None of these
   
   Answer & Explanation

   D. All of these
   Explanation:
   All Scheduled Commercial Banks, Regional Rural Banks and Scheduled Primary Co-operative Banks are covered under the Banking Ombudsman Scheme.
   
   
4. The Banking Ombudsman may award compensation not exceeding ________ to the complainant only in the case of complaints relating to credit card operations for mental agony and harassment.
   A. Rs 1 lakh
   B. Rs 2 lakh
   C. Rs 5 lakh
   D. Rs 10 lakh
   E. None of these
   
   Answer & Explanation

   A. Rs 1 lakh
   Explanation:
   The Banking Ombudsman may award compensation not exceeding Rs 1 lakh to the complainant only in the case of complaints relating to credit card operations for mental agony and harassment.
   
   
5. The Banking Ombudsman can reject a complaint If compensation sought from the Ombudsman is beyond ________ 
   A. Rs 1 lakh
   B. Rs 2 lakh
   C. Rs 5 lakh
   D. Rs 10 lakh
   E. None of these
   
   Answer & Explanation

   D. Rs 10 lakh
   Explanation:
   The Banking Ombudsman can reject a complaint If compensation sought from the Ombudsman is beyond Rs 10 lakh.
   
   
6. What is the cost involved in filing complaints with Banking Ombudsman?
   A. Rs. 10
   B. Rs. 50
   C. Rs. 150
   D. Rs. 100
   E. No Fee
   
   Answer & Explanation

   E. No Fee
   Explanation:
   Banking Ombudsman does not charge any fee for filing and resolving customers’ complaints.
   
   
7. The Banking Ombudsman Scheme was first introduced in India in ________
   A. 1992
   B. 1993
   C. 1990
   D. 1995
   E. None of these
   
   Answer & Explanation

   D. 1995
   Explanation:
   The Banking Ombudsman Scheme was first introduced in India in 1995.
   
   
8. The first Banking Ombudsman Scheme was revised in ________
   A. 1999
   B. 2000
   C. 2002
   D. 2001
   E. None of these
   
   Answer & Explanation

   C. 2002
   Explanation:
   The first Banking Ombudsman Scheme was revised in 2002.
   
   
9. The current Banking Ombudsman Scheme became operative from ________
   A. 1 January 2006
   B. 1 January 2007
   C. 1 January 2005
   D. 1 January 2004
   E. None of these
   
   Answer & Explanation

   A. 1 January 2006
   Explanation:
   The current Banking Ombudsman Scheme became operative from 1 January 2006.
   
   
10. How many banking ombudsman offices are there in New Delhi?
    A. Three
    B. Two
    C. Four
    D. Five
    E. None of these
    
    Answer & Explanation

    B. Two
    Explanation:
    There are two banking ombudsman offices in New Delhi.