An analytical study on the performance of the banking ombudsman scheme in India

Customer satisfaction is an integral element in inculcating trust among the common people banking sector, which may also boost financial inclusion. can be measured terms of complaints received about bank services. The Banking Ombudsman Scheme was introduced India 1995 and revised 2002 to enable resolution customers banks relating certain services rendered by banks. To analyse performance based on selected parameters, a descriptive research design has been used. present study secondary data compiled mainly from “The Scheme-Annual report” published RBI every year 2015-16 2019-20. For analysis purposes, statistics tools such as percentages have scheme blessing very prominent medium for redressal grievances general public against pace essential aspect consumer satisfaction. Also, total number transactions growing because inclusion, new modes payments & settlements coming, newer products, offerings considering this, should increase Ombudsmen proportionately. BO‟s offices started outreach activities creating awareness But still, it needs more rigorous, especially rural areas.