Current Affairs · Banking Regulations

Examine the following statements regarding the implementation of the Internal Ombudsman mechanism for Non-Banking Financial Companies (NBFCs) as mandated by the Reserve Bank of India: Statement 1: The RBI mandates that all Non-Deposit taking NBFCs with an asset size of Rs. 5,000 crore and above, along with all Deposit-taking NBFCs having 10 or more service branches, must appoint an Internal Ombudsman. Statement 2: The Internal Ombudsman must be a retired or former official of the rank of General Manager or equivalent in another financial sector regulatory body or a commercial bank/NBFC and cannot be a person previously employed by the same NBFC group. Statement 3: The Internal Ombudsman is responsible for examining customer complaints that have been rejected either fully or partially by the internal grievance machinery, and is prohibited from dealing with frauds or HR issues. Statement 4: The appointment is for a fixed tenure between 3 to 5 years, and the individual is eligible for re-appointment for one additional term within the same NBFC. Which combination of assessments is correct?