The Banking Ombudsman scheme started from ______.

June 1994

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June 1995

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August 1995

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January 1995

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Solution

The correct option is B June 1995
Banking Ombudsman scheme was introduced under section 35 A of the Banking Regulation Act, 1949 with effect from 1995. Under Banking Ombudsman scheme, banking ombudsman is appointed by RBi he is a senior official. The official handles and redress customer complaints against deficiency in certain banking services.

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