The role and importance of banks for everyone has increased manifold. The banks are, today, not accepting only deposits from public rather they are providing various types of services. In this process, the arising of disputes between banks and their customers are natural. The banking law has already a well-established system to resolve the issues which has arisen between banks and customers. At the same time, one more redressal mechanism is provided for having an expeditious, efficient and inexpensive forum for the settlement of disputes pertaining to deficient banking services. In this respect, the Banking Ombudsman Scheme has been introduced by RBI which provides a key mechanism for consumers to seek redressal against banks. The institution of Banking Ombudsman is new for India which is a next institution for banking customers in addition to earlier available institutions like courts, forums for redressal of their grievance. The Scheme came into force on January 1,2006. This scheme has been introduced for quick and inexpensive resolution of complaints submitted by the customers against the banks. Broadly, this scheme has following objectives-

• To enable resolution of complaints relating to certain services rendered by banks and
• To facilitate the satisfaction or settlement of such complaints

Bombay High Court in Sidhivinayak Temple v. Uttam Rathod (Writ Petition No. 2159 of 2005 decided on 10 June,2010, observed that the object of scheme is to enable resolution of complaints relating to provisions of banking service and to facilitate the satisfaction and settlement of such complaints. Like this, Hon`ble Karnataka High Court also in Ballela Mohan Reddy v. The Ombudsmen, Reserve Bank of India, Bangalore (Writ Petition No.3348/2012 (Gm-Res) decided on 4^th December, 2013) observed that the Banking Ombudsman Scheme, 2006 has been introduced with the object of enabling resolution of complaints relating to certain services rendered by banks and to facilitate the satisfaction or settlement of such complaints.