Company : Sol Infotech Pvt. Ltd. Website : www.courtkutchehry.com Banking Ombudsman Scheme, 2002 CONTENTS CHAPTER 1 :- PRELIMINARY 1. Short title, commencement, extent and application 2. Suspension of the Scheme 3. Definitions CHAPTER 2 :- ESTABLISHMENT OF OFFICE OF BANKING OMBUDSMAN 4. Appointment and tenure 5. Territorial jurisdiction 6. Location of office and temporary headquarters 7. Qualification 8. Remuneration 9. Secretariat CHAPTER 3 :- JURISDICTION, POWERS AND DUTIES OF BANKING OMBUDSMAN 10. General 11. Other powers and duties CHAPTER 4 :- PROCEDURE FOR REDRESSAL OF GRIEVANCE 12. Grounds of complaint 13. Procedure of filing complaint 14. Power to call for information 15. Settlement of complaint by agreement 16. Award by the Banking Ombudsman 17. Proceedings before the Review Authority 18. Direction issued by the Review Authority 19. Rejection of the complaint 20. Banks to display salient features of the Banking Ombudsman Scheme for common knowledge of public CHAPTER 5 :- ARBITRATION AND CONCILIATION PROCEDURE 21. Banking Ombudsman to act as arbitrator 22. Arbitral proceedings 23. The claim 24. The reply 25. Notification of the first hearing 26. Pleadings, notifications or communications 27. Terms of reference 28. Conduct of arbitral proceedings 29. New claims 30. Award by consent 31. Time-limit for award 32. Making of award 33. Notification and enforcesbility of the award CHAPTER 6 :- MISCELLANEOUS 34. Removal of difficulties 35. Application of the Banking Ombudsman Scheme, 1995 Banking Ombudsman Scheme, 2002 The Scheme is introduced with the object of: (1) enabling resolution of complaints relating to provision of banking services and to facilitate the satisfaction or settlement of such complaints ; and (2) resolving dispute between a bank and its constituent as well as between one bank and another bank through the process of conciliation, mediation and arbitration. CHAPTER 1 PRELIMINARY 1. Short title, commencement, extent and application :- 2. Suspension of the Scheme :- 3. Definitions :- CHAPTER 2 ESTABLISHMENT OF OFFICE OF BANKING OMBUDSMAN 4. Appointment and tenure :- 5. Territorial jurisdiction :- 6. Location of office and temporary headquarters :- 7. Qualification :- 8. Remuneration :- 9. Secretariat :- CHAPTER 3 JURISDICTION, POWERS AND DUTIES OF BANKING OMBUDSMAN 10. General :- 11. Other powers and duties :- CHAPTER 4 PROCEDURE FOR REDRESSAL OF GRIEVANCE 12. Grounds of complaint :- 13. Procedure of filing complaint :- 14. Power to call for information :- 15. Settlement of complaint by agreement :- 16. Award by the Banking Ombudsman :- 17. Proceedings before the Review Authority :- 18. Direction issued by the Review Authority :- 19. Rejection of the complaint :- 20. Banks to display salient features of the Banking Ombudsman Scheme for common knowledge of public :- CHAPTER 5 ARBITRATION AND CONCILIATION PROCEDURE 21. Banking Ombudsman to act as arbitrator :- 22. Arbitral proceedings :- 23. The claim :- 24. The reply :- 25. Notification of the first hearing :- 26. Pleadings, notifications or communications :- 27. Terms of reference :- 28. Conduct of arbitral proceedings :- 29. New claims :- 30. Award by consent :- 31. Time-limit for award :- 32. Making of award :- 33. Notification and enforcesbility of the award :- CHAPTER 6 MISCELLANEOUS 34. Removal of difficulties :- 35. Application of the Banking Ombudsman Scheme, 1995 :-