General Knowledge · Banking & Financial Awareness

Regarding the mediation process and the passing of an award under the RBI Integrated Ombudsman Scheme: Statement I: If a settlement is reached through mediation, the Ombudsman shall document the terms and the settlement shall be final and binding on both the complainant and the Regulated Entity. Statement II: In cases where a settlement cannot be reached, the Ombudsman may pass an Award based on the principles of banking law and practice, and the Regulated Entity must implement the Award within 30 days of receiving the complainant's letter of acceptance. Statement III: A complainant who is dissatisfied with the Ombudsman's decision to reject a complaint during the initial scrutiny phase at the CRPC has the right to appeal to the Appellate Authority within 30 days of the rejection notice. Which of the statements given above is/are correct?