Saturday, July 16, 2011

Feeling short-changed by your bank? Complain to the banking ombudsman

There is a tendency to go directly to the ombudsman instead of approaching the bank first. It’s not a good practice. The set procedures should be followed while registering a complaint. Ombudsman will accept the complaint only if it is made within a year of the incident. Also, the ombudsman is not empowered to impose penalty to banks, but can only order redress of the complaint.......


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