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It was created in June 2007 by the Department of Administrative Reforms & Public Grievances. [2] Under the public grievance mechanism any citizen of India can raise their problems, grievance or pleas to the central govt and state government Ministries and Departments. Grievances can be submitted to all important portfolio ministers and departments.
Presently the Banking Ombudsman Scheme 2006 (As amended up to 1 July 2017) is in operation. [1] From 2002 until 2006, around 36,000 complaints have been dealt by the Banking Ombudsmen. There are 22 regional offices of Banking Ombudsmen in India. The latest offices are opened in Jammu, Raipur, Mumbai-II & New Delhi-III. [citation needed]
Reserve Bank of India, abbreviated as RBI, is the central bank of India, and regulatory body responsible for regulation of the Indian banking system and Indian currency. Owned by the Ministry of Finance , Government of India , it is responsible for the control, issue, and maintenance of the supply of the Indian rupee.
Sir C. D. Deshmukh was the first Indian to serve as the governor. Sir Benegal Rama Rau was the longest serving governor. I. G. Patel, the fourteenth governor Manmohan Singh, the fifteenth governor, later served as the thirteenth prime minister of India Raghuram Rajan, the twenty-third governor Shaktikanta Das, the twenty-fifth governor Sanjay Malhotra, the twenty-sixth and the incumbent governor
It also refinances fund from World Bank and Asian Development Bank to state co-operative agriculture and rural development banks (SCARDBs), state co-operative banks (SCBs), regional rural banks (RRBs), commercial banks (CBs) and other financial institutions approved by RBI. While the ultimate beneficiaries of investment credit can be ...
The department acts as a facilitator, in consultation with central ministries/departments, states/UT administrations, organisations and individuals, to improve government functioning through administrative reforms in the spheres of restructuring the government, process improvement, organisation and methods and grievance handling, and by ...
The Enforcement Directorate (ED) is a law enforcement and economic intelligence agency of the Government of India. Established on 1 May 1956, it is responsible for enforcing economic laws and combating financial crimes. [1] The ED operates under the Department of Revenue, Ministry of Finance, with its headquarters in New Delhi. [2]
Banks Board Bureau (BBB) (now replaced by Financial Services Institution Bureau since 2022) was an autonomous body of the Government of India [1] tasked to search and select appropriate personages for the Board of Public Sector Banks, Public Sector Financial Institutions, and Public Sector Insurance Companies and recommend measures to improve Corporate Governance in these Institutions.