The Reserve Bank of India has appointed Shri P. S. Cheema as the Banking Ombudsman for the states of Bihar and Jharkhand with effect from June 16, 2003. As Banking Ombudsman, Shri Cheema will have his office at Biscomaun Towers, 2nd Floor, West Gandhi Maidan, Patna-800 001.

The Banking Ombudsman Scheme was introduced in June 1995 with a view to providing to the bank customers quick and low-cost redressal of grievances relating to banking services. Its scope of authority and functions include redressal of grievances against deficiency in banking services, concerning loans and advances and other specified matters and arbitration for specified disputes. All commercial banks, regional rural banks and scheduled primary co-operative banks are covered under the Banking Ombudsman Scheme.