26. What is the primary objective of the Banking Ombudsman Scheme?
a) Generating revenue for the government
b) Educating the public about banking services
c) Ensuring transparency and fairness in banking transactions
d) Providing employment opportunities
27. Can a customer approach the Banking Ombudsman if the bank does not respond to the complaint within 30 days?
a) Yes, as long as the complaint was filed with the bank
b) No, the customer needs to approach a consumer court instead
c) Only if the customer has proof of registered post dispatch
d) Only if the complaint involves a high-value transaction
28. What should a customer do if they are not satisfied with the decision of the Banking Ombudsman?
a) File a defamation case against the bank
b) Approve the decision in writing within 30 days
c) File an appeal with the Reserve Bank of India
d) Approach the nearest police station
29. The Banking Ombudsman is appointed by the Reserve Bank of India under the powers vested in it by which Act?
a) Banking Regulation Act, 1949
b) Reserve Bank of India Act, 1934
c) Negotiable Instruments Act, 1881
d) Companies Act, 2013
30. Which of the following is NOT a condition for filing a complaint with the Banking Ombudsman?
a) The complaint should have been previously led with the bank
b) The complaint should not be pending before any court, consumer court or arbitrator
c) The complaint should involve a transaction value of at least Rs. 1 lakh
d) The complaint should be filed within one year of the bank’s final response
