Option 1 is correct because the Banking Ombudsman is indeed appointed by the Reserve Bank of India.

Option 2 is also correct because the Banking Ombudsman can consider complaints from Non-Resident Indians having accounts in India. This means that even if an individual is not residing in India, but has a bank account in an Indian bank, they can file a complaint with the Banking Ombudsman.

Option 3 is the incorrect statement and hence the answer. The orders passed by the Banking Ombudsman are not final and binding on the parties concerned. The aggrieved person or the bank has a right to appeal against the order of the Ombudsman in front of an Appellate Authority within 30 days of the date of receipt of the award.

Option 4 is correct because the service provided by the Banking Ombudsman is free of any fee, to make it easily accessible and affordable for the common man to seek redressal of their banking complaints.