An officer appointed by the Reserve Bank of India to redress customer complaints against deficiency in banking services is known as:

Correct option is C

​The correct answer is (C) Banking Ombudsman.

• The Banking Ombudsman is an officer appointed by the Reserve Bank of India (RBI) to resolve customer complaints regarding deficiencies in banking services.
• This scheme was introduced in 1995 under Section 35A of the Banking Regulation Act, 1949, to provide a cost-free and expeditious grievance redressal mechanism.

Information about the other Options:

• Banking Commissioner: No such position exists in the Indian banking structure.
• Banking Lokayukt: Lokayukt is a separate anti-corruption authority and does not deal with banking grievances.
• Central Vigilance Officer (CVO): The CVO is responsible for preventing corruption within organizations, not handling customer complaints about banking services.

Information Booster:

Reserve Bank - Integrated Ombudsman Scheme (RB-IOS), 2021

• It was launched on 12 November, 2021.
• The Scheme integrates the existing three Ombudsman schemes of RBI namely,

(i) The Banking Ombudsman Scheme, 2006;

(ii) The Ombudsman Scheme for Non-Banking Financial Companies, 2018; and

(iii) the Ombudsman Scheme for Digital Transactions, 2019.

• The Scheme adopts the ‘One Nation One Ombudsman’ approach by making the RBI’s Ombudsman mechanism jurisdiction neutral.