• Ajit Narayan Jadhav

Purpose: This empirical study aims to assess the level of public awareness and understanding of the Integrated Ombudsman Scheme (IOS) of the Reserve Bank of India (RBI). It also seeks to identify the factors influencing public awareness and understanding and evaluate the effectiveness of communication channels used to disseminate information about the scheme. The research aims to provide recommendations for improving awareness, understanding, and utilization of the scheme among the general public. Design/Methodology/Approach: The study utilized a survey method, employing convenient sampling to select 110 participants. Structured questionnaires were used to collect data in person. Descriptive statistics, including frequency distributions, measures of central tendency, and measures of variability, were employed to analyze the data. Hypothesis testing was conducted using Independent Samples T-tests, One-Way ANOVA, and Kruskal-Wallis tests. A reliability analysis using Cronbach's alpha coefficient was also performed. Findings: The study revealed a significant lack of public awareness and understanding of the Integrated Ombudsman Scheme. A considerable portion of respondents reported being unfamiliar with the scheme, and many had not encountered information about it in the past year. Similarly, respondents demonstrated limited understanding of the purpose, scope, and benefits of the scheme. Media channels, public education campaigns, clear communication from the RBI, and active participation of financial institutions were identified as important factors influencing awareness and understanding. The effectiveness of communication channels varied among different demographic groups. Practical Implications: The findings emphasize the need for enhanced efforts to promote and disseminate information about the Integrated Ombudsman Scheme. Public education campaigns, collaboration with financial institutions, and targeted communication strategies tailored to different demographic groups are recommended to improve public awareness and understanding. Strengthening communication channels, particularly through social media, is crucial for effective information dissemination. Originality/Value: This study contributes to the existing literature by providing empirical insights into the public awareness and understanding of the Integrated Ombudsman Scheme in the context of the RBI. The findings offer valuable information for policymakers, regulators, and financial institutions to enhance public knowledge and engagement with the scheme. The study's methodology and comprehensive analysis provide a foundation for future research in this area.

Integrated Ombudsman Scheme, public awareness, understanding, communication channels, financial grievances, RBI

"An Empirical Study on Assessing Public Awareness and Understanding of RBI’s Integrated Ombudsman Scheme", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.10, Issue 12, page no.g167-g185, December-2023, Available :http://www.jetir.org/papers/JETIR2312625.pdf

"An Empirical Study on Assessing Public Awareness and Understanding of RBI’s Integrated Ombudsman Scheme", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.10, Issue 12, page no. ppg167-g185, December-2023, Available at : http://www.jetir.org/papers/JETIR2312625.pdf