With reference to the institution of Banking Ombudsman in India, which one of the statements is not correct?

1. The question asks which statement about the institution of Banking Ombudsman in India is *not* correct. 2. Statement (A): The Banking Ombudsman is appointed by the Reserve Bank of India (RBI). The Banking Ombudsman Scheme is administered by the RBI, and the Ombudsman officers are appointed by the RBI. This statement is correct. 3. Statement (B): The Banking Ombudsman can consider complaints from Non-Resident Indians (NRIs) having accounts in India. The scheme allows NRIs with accounts in India to file complaints related to banking services in India. This statement is correct. 4. Statement (C): The orders passed by the Banking Ombudsman are final and binding on the parties concerned. While the Ombudsman issues an Award/Order, if a complainant is not satisfied, they can pursue other legal remedies (like approaching courts). Banks dissatisfied with an award could also, under certain procedures, appeal. The orders were not absolutely final and binding in all contexts without recourse. Therefore, this statement is *not* correct. 5. Statement (D): The service provided by the Banking Ombudsman is free of any fee. The scheme explicitly states that complainants are not charged any fee for filing or resolving complaints. This statement is correct. 6. Since the question asks for the statement that is *not* correct, option (C) is the answer.