Is Consumer Court Really Preferred to Banking Ombudsman? An Analytical Study


The Banking Ombudsman under the Banking Ombudsman Scheme and the Consumer Redressal Authorities under the Consumer Protection Act both redresses the cases on deficiency of banking service. However, there exists a difference both in terms of redressal machinery and the procedure for redressal. This article brings out an analytical study, makes an attempt to give out the reasons why most of the aggrieved bank customers prefer to take shelter under the Consumer Protection Act instead of under their Banking Ombudsmen Scheme, and finally the proposed remedy for it.


Banking and Finance Law

Date of this Version

November 2006