Bank Of India Ombudsman

Hi buddy will you plz tell me what do you mean by Ombudsman in Bank Of India reference , as my one of the friend asking me about the same here ??

[pawan]

Bank of India is commercial bank with headquarters at Bandra Kurla complex, Mumbai. Founded in 1906, it has been government-owned since nationalization in 1969.

As you asking I am telling Banking Ombudsman is a quasi judicial authority functioning under India s Banking Ombudsman Scheme 2006, and the authority was created pursuant to a decision made by the Government of India to enable resolution of complaints of customers of banks relating to certain services rendered by the banks. The Banking Ombudsman Scheme was first introduced in India in 1995, and was revised in 2002.

Bank profile:

Type Public
Traded as BSE: 532149
NSE: BANKINDIA
Industry Banking, Financial services
Founded 7 September 1906; 111 years ago
Headquarters Mumbai, India
Key people Dinbandhu Mohapatra (MD & CEO)
Products Commercial Banking
Retail Banking
Private Banking
Asset Management
Mortgages
Credit Cards
Revenue 41,796.47 crore (US$6.5 billion)(2016)
Operating income 6,036 crore (US$940 million)(2016)
Net income -6,089.22 crore (US$−950 million) (2016)
Total assets 609,913.93 crore (US$95 billion) (2016)
Owner Government of India
Number of employees 45,613 (2015)
Capital ratio 12.01% (2016)