Shri N. Raghavan has been appointed as Banking Ombudsman at Chennai with effect from November 22, 2000. The Ombudsman will be functioning from the Challa Mall, 8th floor, 11/11A, Sir Thyagaraja Road, T. Nagar, Chennai-600017 and his jurisdiction and authority shall extend to complaints against branches/offices of banks located within the territorial limits of the state of Tamilnadu and the union territories of Pondichery and Andaman & Nicobar Islands.

The Reserve Bank of India had, in 1995 announced the Banking Ombudsman Scheme to provide a system of redressal of grievances to bank customers. The scheme envisages expeditious and inexpensive resolutioin of customer complaints against deficiency in banking services, concerning loans and advances and other specified matters.