Amendment status not verified — confirm the current text below against the official source.
(1) 'award' means an award passed by the Banking Ombudsman in accordance with the Scheme. (2) 'Appellate Authority' means the Deputy Governor in charge of the Department of the Reserve Bank implementing the Scheme. (3) 'authorised representative' means a person duly appointed and authorised by a complainant to act on his behalf and represent him in the proceedings under the Scheme before a Banking Ombudsman for consideration of his complaint. (4) 'Banking Ombudsman' means any person appointed under Clause 4 of the Scheme. (5) 'bank' means a 'banking company', a 'corresponding new bank', a 'Regional Rural Bank', 'State Bank of India' a 'Subsidiary Bank' as defined in Section 5 of the Banking Regulation Act, 1949 (Act 10 of 1949), or a 'Primary Co-operative Bank' as defined in clause (c) of Section 56 of that Act and included in the Second Schedule of the Reserve Bank of India Act, 1934 (Act 2 of 1934), having a place of business in India, whether such bank is incorporated in India or outside India. (6) 'complaint' means a representation in writing or through electronic means containing a grievance alleging deficiency in banking service as mentioned in Clause 8 of the Scheme. (7) 'Reserve Bank' means the Reserve Bank of India constituted by Section 3 of the Reserve Bank of India Act, 1934 (2 of 1934). (8) 'the scheme' means the Banking Ombudsman Scheme, 2006. (9) 'secretariat' means the office constituted as per sub-clause (1) of Clause 6 of the Scheme. (10) 'settlement' means an agreement reached by the parties either by conciliation or mediation under Clause 11 of the Scheme.