n NISM Certifications
X NISM Series X
Medium

A bank customer is dissatisfied with the bank’s response to his complaint. To whom should he escalate the complaint next?

Practice question from NISM Series XA- Investment Adviser (Level 1) Mock Test 4 — bank. The correct answer is highlighted below with a full explanation.

Options

  1. Bank Ombudsman

    Correct answer

  2. B

    Reserve Bank of India

  3. C

    SEBI

  4. D

    SCORES

Why this is the answer

If a bank customer is not satisfied with the response received from the bank’s grievance redressal mechanism, the next level of escalation is the Banking Ombudsman appointed by the Reserve Bank of India.

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