‘POWERS AND DUTIES OFBANKING OMBUDSMAN, “The powers and dts of the Banking Ombvdanan maybe os inde io bead (7 General powers and dts. Specie pomersand duties General (6) Toreceve complains eating othe provision of banking servis. sion, or setlement by agreement or sevlemeat (0) To consider such complaints and fctate ter sats street seem Ty felbrendion or setlement by an Award ste case may be in 2 (6) Theonbudsman sal powers of 2 Cut Specific vo be more pei the Eaking Ombudinan cn eee all compli regang defileny n baring Nor payment or inordinate delay inthe poyent ool denomination notes without assgring any reason and for chasing of lecton of ches, rats et ip. Nontsue of eras to customers 5 wolas toutes Ui) Noratherence to prescribed working hours by beaches. (0) Faire to honou guarante leer or credit comme Ih. Coimsineipect of uauthrised raul witherawas from depos accounts in Complants relating to depos suchas dlyincllecon, nonredt of proceeds to pares accounts, aera ef dopa or non hseronce offs ectves eting orate of interest on depos lum complains frm lndan exporter regarding delays in receipt of export proceeds, handing of export ates of bk, ete provided such compli pertain othe banks operations nn 3, deposits an other bank by bankers: Un) Comalints of noesdent Indians eltng otherness rom aro reed matter. ‘sfora the lars and advances are concetned, he cn eens complies such (0 Nonbservance of srexebed ime schedule fr dspos of oan pletion’ ih ets sancin non sbueeane of prescribed te schedule for spol of oan apliations Ui) Nowobiennce of any other directions ofthe RL sue rom time to ime PROCEDURE FOR REDRESSAL OF GRIEVANCE. The procedure fr redresal stars withthe lodgement of complaint. Any person who has a grievance against a book oy rate a compan in wring othe ankng Ombudsran either by himself or through his Slthorsed agen The following cendions must Rave ben fulled to compli {The complainant shoul stat ea is ame and abies. i) He shoud aso sate the name and adeess ofthe banehofce of the bank against which the Complaint sma,cl a eat eas ing tthe cm and stood pea ron ron nage fener a See hocnc esr the consumo hous nx ave ae hin one yar om he dt of eon oF een he ofthe Banking Ombud ote same sb : nt cn ype renee a tree Teen prnedy tlt be in epee meet rw an rec end hai or ibaa rin ou sees penne bef 0. oo (i) The complaint shou nat be fous or vert ove tl fr tferatin roi nh ea ae sn oan The Banking Ombudsman should maintain complet ey of ay information or dxinnt coming to tis tnowledge of possession inthe course of Ns fnetonng as Ombudsman an be sould not score 1024 errr enent with the consent ofthe person spain uch infermatin- Hower render rt a fan dlose ton resonable runs | | Settlement by Agreement (on receipt ofthe complaint shally to promote a setement ofthe com tank trough cancion oF mediation. ng 2 setdement of Wh at any cos aswel ashe norman fom the Bak concrete Barking Ombuds re mens for arene evens he compart he For the purpose of promot 1 tne compl, the Banking Obucian may flow 2 Aaa nt be our gal re fever. procedure, which be considers appropité 2 date of receipt othe nema td Settlement by Recommendation sreement ent pss be extended atthe dre fon onthe Basi of "whats of one marth fromthe “Gmbusman), the Banking Ob ‘ytatng no conideratin a Je wtin a et ofthe (9 settlement by 2 inis pinion” 1 wo camer cn een jane andthe bank conrad final setterent fis date of reat of HeThen the 6 Settlement by Award {The Barking Ombecsmen rust pas an Avard afer eg slicntoppetiies othe pate a Mifatedby te complahart or for on snout exceeding 301k whicheer bless (o)Acopy ofthe avardmut be tent tthe conga andthe banka {uy The bank concerned show coma with the Award within 15 dys rm he date of reap ofthe Rejection ofthe Complaint Nao ‘REVISED SCHEME 2006 The has announced a reve eheme, Banting Ombudsman Shere 2006, on Det 2, 2005 which came he scope ofthe new chee hs een ened t inclu customer complaints on the following new Apps faleee banking home Ranking. internet and unsformation defo the adoption ef it the branch a he bank a ‘rater, cash wittonel en eee 1 Petr the bac Fc, 6. The brand marta sctre ear eta rt ho cam err a eg econ gt website or vowng teh acon an iS tren ha ae a te et ‘lek and portal model there hing tonseat ete Se re tsfnedto banter Canon ae stoners an ae catetece Oe eae socom oe her chaneca se nt test nile anti hane an Ta Cnn tae ng vce pee ee Conventional banking i an at. Gut Eoking is more a a cence than an art toning is Knowledge ‘ase and mest seientifelnusing the electronic devices ef the comptes recht. When most corporates tendo Become internet working organisations, tanking hs toe Ean inthe ew ey. ‘Banking actvtles though the tadtonal delivery channel of branch networks afe on the deine ant ‘estomers ean now do banking bsiness fem the comfortable cons af the homes wing mest modern ‘ectronie delvery channels, Banks ae able dele heir ret more cheagy tan the tational Bench networks loaded with expensive staf. The infrmaton techcagy has ead nk to cease he range ct ‘hee products also and market them more effect ‘The popular electronic delivery channels ae the flowing: (i ates (i) Smart cards i) Telebanking (i) Intemet banking () ATMs = become the ee fh on sion as Pee SS al ecto eee rer a ee tee ba eal ce at ave moss acceptably, Tey an fet reach reg ch ees Te ee ad ee ands ATH fbn mat ears cost ATE NAN Settee a to educe the cost, Most banks ae used 0S er re use we ae ‘feustomers. Banks have started o se onthe res they Bere operative hey ‘ey ats tds wh ert 2088 Ny, tn AT Wo con ok hough they were evohed a nove cash opener, Spe the esters om Teal a ene‘EcTiowc ans fan AIM ot Sheed Commer te ibsaenetonn at (im wane ee a 2 2 a Tries s56[ “eon ta bi ees es a = sem) poe ec Sg el (Gi) Pepsi Payment strane P) The Flite mot opr mode ol gens mode aloned by mee ales. Thx nsrurens ae sede ods and serves and for nd tarts knoe te ep in yond ae eur nes. These ards mayne moe prepa sre rx bere ee {ards and corporate crt. Dring 01540, he vale of tacos teh Cs ad coer ct he vale of tara tau P| i iy to € 25 bin (reusyar® 105 ilar an 205 on @ 8 ion he pre ea respective te () Telebanking Fae et vmeCctecanng nats ehkhhew sited cnqnoc: womans (0 Internet Banking ed honking athe ce of» mous nenet nk il ose © ene 5 the mos. Sa alan sound eta per anion nent ha eb rrolound secon camel ne Crm on prone estate esta em incre elon ony ote of reper bah ons ra anere rece vo fr eer ner of tang et cine ret ate bie 0 Ses oat on eo hans webshot fark. eon of» a pec eaten ees om ana st re, Tatoo i nd reece fear nent beeen fd and ble Eee ee ane tte cn oP tres ebaing ot mob Bag cpr ar minor cry i, Sum nen St. mare we reconvene mtn ty ee {CPURSEAND DIGITAL CASH ut card hich cent tangas at ltr pod los em eh moan esr pees Thi cam be Spent ke psc piptaiiecmenaia sean‘ads carded when the vale expe, Sometines ne equredwe maybe aed on othe td wen (TiSSSt's canbe sone teu cpu otis ote exsing card ems on berennted wa a eestnd ines egaremens Treat oT ecpg Had cash purse asec mone wa Cees eden canbe wed or mang purchases whenever wherever nce Werc ed Digital Cash Diet ashe ohing at necro store lie permet forgone ad serves wih the i of Zener, oe ery, tal rere, afl ney orm dice omnes wor abot rye SCA RN WFACETSOFEDANKING Tee ssn ear, Eling rane conduct of lrg dectonicaly, Ks focninaion of paper Fae ae at Cate brtngcpsaors bering wil operate vou interaetant nd ea incre, sbong one nfrmationsupemahway on he ober ferent () castomertoank Ebon (9) i srktoaenkeSotng (in Beco canal ining IW) rant rocrement money vue on tech deve which can be ed or tes w ey convent and ste medion of Taher regud (0 Cestomerto-bank E-banking ‘chen is boscaly ere bosed, tng prods and sere sich 5 depos emia, re ee Natantang farms can be mace aatabe wth eay ces tocstorrs Ca arene cn mate we of hese ce wth fests ice our, pe queues, ro el ano ae nowt fr Eoaiig cn be wanlsed sh 0 sma car, econ dt Ta eaten, te trng pesto havea Be ured ogaretwouthared acess by Bank-o-bank E-banking tus for of econ bali efor ansacing nea ranactons xh as moneys et TE ope EEanang sing atnts win Fescted 4 Barks on, Here, 1 wall seed a thrid eases (Gy Electronic Central Banking Sneri cenrabaking berks thin the pew of ent ank ar Iterconnceé on ean oa scl cheqpen management of eth reserves open mart operation, outing {ola pai eso beconmate wth he Goverment treason ene car out fein Int te cee hg tear! ks a coi canbe nine he MF, Wore aa er rman ana etutons rou ext,2) Intranet Procurement sora mer leiden rs Fo a ‘over the users of intranet and the information to be transmitted. Pere leathers | The exvantinranetntret elt ec nso tat ex nthe poses of Ean peed te 1 a a onal Fre Shing oot eng ese orarsorn eae aaa TEBANKINGTRANSACTIONS “Tauth any tee of wasactns cn be hang hough Eben inte ps, most fe ai nt esd ean be performed coment tough tenet ban. Teflowng ae some of he + Fondtaster 1 paymentteteccy, mate eeone bi Facer atest schemes pent rates foerest ander see get ‘TARUNCATED CHEQUEANDELECTRONIC CHEQUE aaa si Se. Gf the Negobl Insrare saan eet ds eae reamly amended to ncude rnd Pees NIAct Amendment The amended Sec 6of he NIA Aetepeitapaofechng dimen el ct tale seerenc ine 02 ow ede 5 flows area ver ond ot exe 1 be pel oere on eotcheue nth cero ae ve wel ae hue, ii aren, Then Athos pemated the wel NEST ae Th cE tT cee traty resid 40H te EMA ag of ee, ems on roca ates pel ca wa Ne ge Pope cf pty colin oa cheLaunching of Mehg in inaia Inia the Baas come era ot Tsay ee re ie ewer Mc yw etn nce sr ects fer toc bank dilute esc casein ne Ym De, Muro and he teal Capt ep nn re witbe a diy tannin of 50 tn vracon tere eres es roerta chara present Bt he concept brome pope se chance eee 1 INTER-BANK MOBILE PAYMENT SERVICE (DS) See SNTERBANKMOBLEPAMENTSOVIGE (OS The inerankmoble payment sence (MPS) 2 seve Wh i re nce by we nso amen Corporation of na PC) November 2010 Te NP as renee oe Inda with a view to proving » andatsed eons for cltaing eos pojrens eet nea nating but a mobile bsd anklet parent necanin Kiss wy ieee, coven cad ‘ok payment mechanism Modus Operandi Ths service allows customer in ene bank to remit funds to an acount holden anther bark by wing 3 rable phone asa service delivery chanel. Abank wishing to ote these should became mambe IMPS and shuld have obtained the necesary authorisation fom the RB The serve canbe used ether to ‘receive money or pay money for which he olowing procedure i folowed. : Rote secrnor “withdraw the maney by using any service chanelToPay Money To pay maney, one shoud Reger hii foc mobile ankng hh bank 1 Gethis oan Mobie Baking Peron lersatn Number roms bank * Doaniesd nd atte the mob baring apalcton ans mobilephone ore SMS. + Send mane flowing teen option nthe mob bantng apolston/MS chee canfemstion SS for debt ois acount a reo theBenfay cnt i VIRTUAL CURRENCY tenon of model duc of TEN FD cen Au Ghaignspoczn ied nrg” dtc er no rdesng at No eel Bo oF mene Sitch ony sony soon ka tn auored me of excrge. hee, tere ro Crone money nen and guy wont te intention fay goverment organ sur. Th ovesys prey seat one ss Send rd spp For exam, Bans ware eacanged once Sneha‘ eto 00 ee, Now, rs bung tak 5 The re cae 8 NY cen Mt Gori es cb eugene te MODEISFORE BANKING Te implenentefectvely Ebankng ad vgent the lvl of tcblgy, te follwing model have Been suenesed (Complete Certzalued Soliton (5) {ip caster Appeoncn (i ghtacs Bank within ark () Complete Centralised Solution (CCS) This i an idea branch network madel on which Eanking actus an be implemented uniform and cet, Uner hs adel the bank has to provid web server and th equ software which scnnectes tothe main serve One the required haare and sctwae ate stn the esters can access te web ‘ene for the bsc banking operons ving ay standard browse t any eto Feature of C8. 1 The enti system oftware dita for he ee bank, ete ate stored in a cents server ith thot Sandy server bing laced wt eiferetlcatons and canreted though high sped and een (i) Branches ar provided online odes to receive equet fom esters and to provide them eres fcosthe counteray crOME eames coms) UW) he nodes prodded tc OH The sktedmaspower i equa a he end noon {i Cluster Approach ead kh rmany nn ped pce aa nee te Porson eta Sp ht en A). Thoente branch network he aks be computed though negated sofware (i) Attese ances hole tented th egna eres oun ite ewer med (diy High-tech Bank within Banke Under he mod compte computa fl atte ale tin each ink wo feet type f barks wold fron anny, ne, Mech Bk proving Ekeig ales tough ec Sires and dtr tn fn dian ea ih er tres Ns apc nt Features 1) acl eae bach ete of aan ano le ng GQ piectenens eral toi ce nan ane aaa wy se oho rd comes maybe neue! tue EB pea chrologcal burden on customers who do ret want to enjoy Ebarking hy rol pe impose 9 chon (0) The bas could get esation Ino paced martes: ptt covet mare braces inter hula of Here Sn EADYANTAGETOFE RANKING err hte ln pn pte e irg n S ound dc ong es ‘round-the-clock globally. pees on crete ang Ettg noe ‘Pregred Costes can perm bs rere een dps 2 wet, aN ce bors ark poy ating wt cletome trough PC cate. Cstmers cn ats at hei doorstps tough oma aT E {uy tom co seting (ames), The pearl cons ave cme own de otc 2690 The ce Srameh aceh meiner bangs rh estan anyother aden mode th moftbl beng The res spend of reponse utomerrequreents nde banking roa an sce comer stifacton an, consequi can Wat Nene PS i ‘ining stows tone‘ cone eon ao of anc mre ross tw) tauon seoing estab ria ora stuctre of barking ets converte nt ci a ree eae ecin are ccs to 9 greater umber of potenat estos wine te arta Ea an etal opening tances Hace theres much sag on te cst of ‘erates woreover reget of a ot the banks et reduced area een two natty bering Etoning opens new va fo rover, einai and quay Serve en ane aardigns te pos ofinpoved uaty ad an nage rang fences tong made albltcstome. ui) Speed eat the crested sped of eponc to cistometreqerents under E-bankng wil ead Sa a Csacton ons hondng are ane of wanton alesse ie. Ts, ane errs convene ts restr exten apd facto beter case een, van. Scre Barking: baring creates sore bat nfasucure forthe banks to embark upon many See anere Croce ant verte nthe new fs Ihe Econmerce, ED te start Ged Fear eta of uy ily instar aretr of funds, et wold be made posble under E Trnree baCc sad conrence othe ene taking Serves epar fom wdeig the arg of ICONSTRAINTSINEBANKING Wh the obdov nas emerging out of baking mendoned above the flowing Fears commute a malorimpedmers inthe seth enlermentatin of bang: (Startup cost Many Saks have expressed ther concern about the hag ita sta-u cot for venturing int ang The start cosines Ie) The connection com to the internet of any ther mode ofelecvoniccmmunletin. The network ous berobus, secure efflent na salable wth nbl Bunny by Thecost of sophisticated Hardware, software and oer elated components nung mode rst Trige, etwork management sats. {c) Thecost of maintenance ofall equipment, obsess lee of emploees (a) The conto seting up organizational cies to implement banking. for sucess Ebanling, bonkers need to develop a coherent perspecive of the role of network technologies and sovacementof thee EFT depariments with acompetive itospecton ofthe banng ‘The nroducton of baring involves 26ou support envronment, uaty service tender and oe parmers which would necssate 9 wel quied and robust group of sled people to meet eternal stdicroucesnencicamnene (Ga) Lack of Skited Personnel tones et ea ate fw ep cnet pena sceario the obsolescence techn moat en 2 ft changing eco get (i) Security (0) Lega Issues Seren Pl ane Sete Ce raion Rte 0 sh owe a eco ca nd watered mesh St Sree coon bannato nets wee ewes 9 eeu cUIaREN od (i) Restricted Clientele and Technical Problems ‘The we of Ebaking nes cmt etal oo Se reas at teat ae rested toto anon ne Pe nares tN thou te fs cere, Meret ‘ee eter away prect sn enaone Pte mode conection tan bak eg (vi Restricted Business oe nanan east he eed pees oe cetenes,bt s rey hz sacs sae bkand Foto eet cone ec hi ene roend upen mar e ent yma Mala Serban cons ae ec, oe (vi Destruction of Pricing Mechanism fr etn con re 38 Compre atsong =ry a 10 PRTIE re as rg oe oe gee e ery eden pout pve atn TaN tof the robes mean me ute conten ny tind eps PS raat leo ena tthe se mma soso aces te deed fn Saree ret reve tus ea sean ie ie mwah one me ed soem. ance ebie onyx ho posts setter te eet hc re meypnuar ey nd oii cin he Sane ey ne a cena nse fe oa i age WE rough le 1, nr cag benan niche es of econ Bag,ihe f ear date ease mens wah reason ol Ecomar, tha oo gig operons rm nd une by tering enh TTREAT TINE GROSS SETTLEMENT (RTS) area new ser of payments vodin he wan bank erent na RIN ere ee mers of pryrenson 2 ei is os banks in eet eT ed recy spencer on pment vogh eit 1 AS Se ian pre ec ing ye ok cy pert et stant Dore als 2 et pematcracgueto abeanced edaopel nares ‘Modus Operandi vier 765 tems, payment ar eared say and ater athey ocr, When 2 pem=M Mea rg noe, the pring bs cau wh the RL snares bie 9 eto acon. Tae ae no erty procedures ante ciel POD A rd i ee caray of gayest a he esr Park can Cette bene ‘edn ad allow fl eof nds. Advanta) oe a ow o o o “ oyeHECRON CSA e4anane Advantages (0 Certainty of Poyment 8 payers under 6 be ceed inmedatey alae suchasineredt acount ots oepracnen ‘Foster Collection of and: nes, {improved techolgr. thes wee Subsequenretuns nt met and fbn acu an etement rane ces oa aut sia wh no posbity of Improved Unuidty Monogement: From bar’ ont of wen he Lquy manaene improved since funds canbe semlesiy watered acest, wn Margera ess Froud ond es Pocesing Cost: The prsesing citar eee ‘ofpape bad dering system They ae cones edcedune FS, [eter Inventory Menogement: Faster ands taser fata bee ven a py ein smanogrent Wh these erat, expected ht oes truant unde RTS wi eo ‘he transaction volumes by neq payment wil te aden the come os Te RTGS volume has crossed milion arco ding Match 213. NAWSISTEN The increased volumes on RTGS wansstions hive conpaed he Ba invotue anew syst wih move saleguds and improved functions, Accord, are spt eled NO-ATGS hs been edu. The ne Sum proves or Improved functions with ataned ivy mangement ay. The new Sem OS 10 Extensible markup language sed mestasng system XML conforming to 0 002 i) featme iteration and watson montaing and conta stems. TNs systems pena from Aug. 2013 orwars RU omureanls) ofctve Te: Pa hanks wie mort teoornn cen feng Impuprs aking ast man a TEEN cin 2 wi re bs "Ste whether the falling semen arene or fe ver otnonsttonn‘STH GRNORONTTITOL STANcosine a are ane a eee sent canes 8g te tea nT rong ec ixnroe oe gan 7 sna pe tenes Cone avery whe 6 alowed sore nt Ts oy 3 el i ete rad ea a = ithe Irs chal e heared chile ee eared deen tm i a ot yet eon. ea ret yh dren ne Dee anoint customers having caret cout So Sa te nora es torre for repayment se nrc cect (Bil Discounted and Purchase Ne cr noe Sameer ik ae Sg eee aon aoe manent Me 2 eS cna a fo be ne ing ee ee te rhe avons ofthe pares the Bi etree ceaontebisnned of dung em, is Ache Hea a ak oe tc ig an eit repurchased ye De I La eee fer ah ed ga the secu of he Bi Th he ae cn nk becomes th prthasrowner of such is But nest a ntl ion ascent fete dance Ree Lomas) Objet Type: Fa hans it aa 1 Seon of Ser Retin et des esi ans. 2 ae mer mnt cect cts A. Gant rt tte DERI se 2a ty oe= MODES OF CHARGING «tk SECURITY ©nso eno MET 1 nt of sen le spol be debt wit De a of he net of done Bhd 8 rau hel The Be Sy se ease, cbr tas fe ly lin sng te ate of shone, Whe te ene oe antes ma be snore hy Sr pcs he Pleat be dest ce ar, wen ty ame a es ee (a) hte rete ry alo Te tor aie Be Sane eran cojctve Te: 1. Cs he het mero he fling: CEE (Reman rei eth ils reel othe se oe to we of he casos ed bins ene ee cab reine rhe matty he bilsaoo9 OL suao sinawnood Isnivoy SIONVAGY sainan reon Am NO ACTEE smn eng nto ng ee ee ia arr et ee te sere edn i er sou be eng oh sar go? EARL Sten tne quoson of woods caching the destinations incu nage, a oar aera | Sein eat caer hens proicon of te raay rect, xy shen be as pps See eee eee See eae eae esha prents ne aber et shad gos ced wt these mlnedla th cg (9c hudba ol ct ph loa ei. Coes bl io gy Prcations inthe Case of alivery Orde [uh tar, beter ating ena ey od ae nto acon He epg bathe compe arg thes od nc etc ce stein econ seat (2h heh sty at delve or ha ben ised inept ef ts al on ‘beacon lord sanetoedn ie tame ese Tommi bre bd tte lr oe reer he marco agen (eves bean at deter ot tein utndig rs ange recautlons i the Cse of Dak Wasrnts son 8 ty ak nore erty deed on he ey an rnc ne (27 kre hou inl reid toner of he gods Fs og wth ‘eran Stoo 2a eer tone angen ee (hires ova what conpany atalino onde remand ober dure<¢R___ ADVANCES AGAINST Goons