Banking GK Questions 2026

The Charter of Customer Rights issued by the Reserve Bank in 2014 lists five rights: the Right to Fair Treatment, the Right to Transparency, Fair and Honest Dealing, the Right to Suitability, the Right to Privacy, and the Right to Grievance Redress and Compensation.

Under the Reserve Bank's Internal Ombudsman arrangement, every bank with ten or more branches must appoint an Internal Ombudsman, a senior person who is not an ordinary employee of the bank and who reports to its board.

The Ombudsman decides whether there was a deficiency in service, not whether a lending decision was wise; a bank's commercial judgement, including whether to grant a loan and on what terms, is expressly outside the scheme, as are disputes between banks and a bank's own staff and recruitment matters.

The scheme makes the bank the first forum: a complaint is maintainable before the Ombudsman only if the customer has already complained to the regulated entity and either received no reply for thirty days or received a reply he is not satisfied with, or had the complaint rejected.

Either the complainant or the regulated entity may appeal to this officer within thirty days of receiving the Award, and a regulated entity that failed to appoint a Principal Nodal Officer cannot appeal at all.

The scheme separates two kinds of award. For the loss the complainant actually suffered, the Ombudsman may award the actual loss or rupees 20 lakh, whichever is lower.

The integrated scheme is jurisdiction neutral, so a complaint no longer has to be sent to the ombudsman office of a particular region; all complaints, whether filed online, by email or on paper, are received and processed at a single Centralised Receipt and Processing Centre set up at Chandigarh, which…

The Reserve Bank - Integrated Ombudsman Scheme, or RB-IOS, was launched on 12 November 2021 and merged the Banking Ombudsman Scheme of 2006, the Ombudsman Scheme for Non-Banking Financial Companies of 2018 and the Ombudsman Scheme for Digital Transactions of 2019 into a single scheme on the principle of one…

The Reserve Bank of India notified the first Banking Ombudsman Scheme in 1995, exercising its powers under Section 35A of the Banking Regulation Act, 1949, to give bank customers a free and quick forum outside the courts.

The Senate of the United States has two members from every state, and with fifty states that makes a hundred Senators, each elected for six years, with the Vice-President of the United States presiding over the house.

The Eduskunta is the parliament of Finland; the parliament of Sweden is the Riksdag, a single house body.

The Jatiya Sangsad, or National Parliament, is the single house legislature of Bangladesh and sits in the Sangsad Bhaban at Dhaka.

The phrase comes from the nineteenth century reformer John Bright, who said that England is the mother of parliaments, and it stuck to the Parliament at Westminster because so many countries, India among them, took their form of government from it; that form is called the Westminster model.

The Oireachtas is the Parliament of Ireland and consists of the President with two houses, Dail Eireann, the lower and elected house, and Seanad Eireann, the upper house.

The joint sitting of the two houses, provided for in Article 108 and summoned by the President to resolve a deadlock on an ordinary Bill, was taken from the Australian Constitution, along with the concurrent list and the freedom of trade and commerce between the units.

The Malaysian Parliament has the Dewan Rakyat, the house of the people, as its elected lower house, and the Dewan Negara, the house of the nation, as its upper house, which represents the states and holds appointed members.

The Russian legislature is the Federal Assembly, and it has two houses: the State Duma, the lower house, whose members are elected, and the Federation Council, the upper house, which represents the regions of the federation.

It is a single house body with close to three thousand members, chosen indirectly by the provincial congresses and the armed forces, and no other legislature comes near that size.

The Althing was founded in 930 at Thingvellir, where free men gathered in the open to settle disputes and declare law, and it still functions as the legislature of Iceland, which makes it the oldest surviving parliament in the world.

The Japanese legislature is the Diet, called Kokkai in Japanese, and it is bicameral: the House of Representatives is the lower house and the House of Councillors the upper.