Banking Ombudsman functions as an arbitrator in respect of any dispute with mutual consent of both the parties provided that the value of the claim in such dispute does not exceed Rupees ten lakh. Banking Ombudsmen have been appointed at 15 centres covering all States and Union Territories in India.
It is absolutely essential to reach a peaceful solution to the North Korean nuclear issue in order to sustain this desirable atmosphere and foster economic cooperation between the two Koreas. It is indispensable also for the firmer assurance of security throughout the Asian-Pacific region.