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@article{190841,
        author = {Naveen. N},
        title = {The Role of the Banking Ombudsman in Consumer Protection: A Critical Study of the Indian Banking Sector},
        journal = {International Journal of Innovative Research in Technology},
        year = {2026},
        volume = {12},
        number = {8},
        pages = {5227-5232},
        issn = {2349-6002},
        url = {https://ijirt.org/article?manuscript=190841},
        abstract = {The Ombudsman in the banking sector plays a significant role in addressing grievances and disputes between consumers and financial institutions. The Banking Ombudsman is an independent, neutral authority or official appointed to resolve disputes between customers and financial institutions (like banks) in a quick, cost-effective, and impartial manner. The banking ombudsman helps to address grievances or complaints that customers have about their bank’s services and actions. The scheme is governed by the Reserve Bank of India (RBI) and operates under various
legislative frameworks, including the RBI Act, 1934, the Banking Regulation Act, 1949, and the Banking Ombudsman Scheme, 2006. This Scheme provides an informal and inexpensive way for bank customers to address their grievances. This includes issues like delays in processing transactions, unauthorized charges, incorrect banking fees, or failure to honor a cheque.The ombudsman is responsible for resolving complaints through investigation and mediation. The Banking Ombudsman can resolve disputes for individuals, businesses, and organizations, regardless of their location within the country. The ombudsman system is accessible to customers across India, and the RBI has appointed various ombudsmen in different regions.
This abstract highlight the importance of the Banking Ombudsman system in resolving banking-related disputes, improving customer trust, and reinforcing accountability in the banking sector. It discusses the process of complaint filing, investigation, and decision-making.},
        keywords = {The Reserve Bank of India, Ombudsman, Banking Ombudsman Scheme,2006, RBI Integrated Ombudsman Scheme,2021, The Banking Regulation Act,1949, Financial Institutions, Customers.},
        month = {January},
        }