JU organizes awareness seminar on Banking Ombudsman Scheme

Excelsior Correspondent
JAMMU, Mar 8: The Department of Commerce (SAP-DRS III), University of Jammu, in collaboration with the Office of Banking Ombudsman, Reserve Bank of India, Jammu Branch, organized one day awareness seminar on the theme ‘Banking Ombudsman Scheme under the aegis of RBI’, here today.
P  Shimrah, Banking Ombudsman for J&K and H S Verma, Secretary to Banking Ombudsman for J&K, were key speakers of the event.
P  Shimrah, in a very simple and elucidate manner, informed the participants about the service deficiencies in the banking sector and creation of office of Banking Ombudsman for the redressal and satisfactory resolution of customers’ complaints. He lauded the role of media for highlighting the various scams in banking sector. He also dwelled upon NPAs, IBC, bribery, evasion of taxes, stealing etc. He opined that money is a good servant but a bad master and there is need for proper management of money earned by citing the example of 10:10:80 principle. He cited many instances and complaints lodged by the customers while using ATMs.
H  S Verma, Secretary to banking Ombudsman for J&K, emphasized on the precautions to be taken while using ATMs, Debit/Credit cards, internet banking and making e-payments. He suggested to put hands on keyboard while inserting PIN in ATMs, using virtual keyboard during internet banking transactions and not disclose OTP and other account related details to anyone. He suggested the participants to replace their existing magnetic strip with chip based card, which are more secured.
During the open interactive session, all the queries of participants were answered by the experts.
A total of 110 participants, including faculty members, research scholars and students enrolled in Ph D, M Phil, M Com II and IV Semester, PGDBRM, PGDMSM and PGDAF, attended the event.
Prof Neetu Andotra, Head & Coordinator, SAP presented the welcome address while Dr Harleen managed the event. Dr Tarsem Lal, Senior Assistant Professor and Co-ordinator of the event delivered formal vote of thanks and Dr Bodh Raj Sharma acted as Rapporteur.