Multiple choice

Under the Banking Ombudsman Scheme of RBI, the Ombudsman follows the procedure laid in the provision of

  1. Banking Regulation Act

  2. Arbitration and Conciliation Act

  3. RBI Act

  4. All of the above
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

The Banking Ombudsman, assuming the charge of an arbitrator, shall follow the procedure as laid down under the Scheme read with the provisions of the Arbitration and Conciliation Act, 1996.

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