A STUDY ON EFFECTIVENESS OF INDIAN BANKING OMBUDSMAN

In the present banking system, excellence in customer service is the most important tool for sustained business growth. Customer complaints are part of the business life of any corporate entity. This is more so for banks because they are service organizations. The capability of the banking industry to attain the socioeconomic objectives and in the procedure bringing more and more customers into its fold will eventually depend on the satisfaction and connectivity of the customers. Banks have a strong belief that a happy customer is the primary factor in developing their business. In current competitive banking scenario most of Indian banks are more inclined towards the banking business & profit, which cause the ignorance of banking norms by the Indian banks & responsible for banking grievances. So, the present paper tries to analyse the role of the banking Ombudsman in India and tries to evaluate the effectiveness of the Banks ombudsman as a banking dispute redressal body.