Amendment status not verified — confirm the current text below against the official source.
(1) The Review Authority on consideration of the review application and being satisfied that the award requires review by the Banking Ombudsman shall remand the matter to the Banking Ombudsman for reviewing the award in the light of observation made by the Review Authority. (2) The remand of the matter as per sub-clause (1) by the Review Authority shall be made within a period of six weeks from the date of submission of the review application or within such reasonable time as the Review Authority may consider necessary. (3) If on consideration of the review application filed by the bank, the Review Authority is satisfied that there is no ground for review of the award, it shall issue an appropriate direction to the bank for the implementation of the award, within six weeks from the date of submission of the review application or within such reasonable time, as the Review Authority may consider necessary.