Bank sold you a bad insurance or MF plan? Go to banking ombudsman

You can also approach the ombudsman if your bank flouts mobile banking or electronic banking rules

Complaints to the banking ombudsman are now possible on deficiencies in selling third-party products such as insurance and mutual funds by banks.
 

Customers may also take banks to the ombudsman for flouting the rules on mobile banking and electronic banking services, the Reserve Bank of India (RBI) said on Friday.
 

This is a sequel to an amendment to the Banking Ombudsman Scheme of 2006. The amended scheme takes effect from July 1.
 

An ombudsman may also pass an award up to Rs 20 lakh, from Rs 10 lakh earlier. The pecuniary jurisdiction of the ombudsman has been doubled from the