๐Ÿ“ข Too many exams? Donโ€™t know which one suits you best? Book Your Free Expert ๐Ÿ‘‰ call Now!

  • google app store apple app store
  • โœ–

      Question

      What is the maximum compensation amount that the RBI

      Ombudsman can award for a direct consequential financial loss suffered by a complainant?
      A โ‚น1 Lakh Correct Answer Incorrect Answer
      B โ‚น5 Lakhs Correct Answer Incorrect Answer
      C โ‚น10 Lakhs Correct Answer Incorrect Answer
      D โ‚น20 Lakhs Correct Answer Incorrect Answer
      E โ‚น30 Lakhs Correct Answer Incorrect Answer

      Solution

      If a consumer suffers a direct financial loss due to a service deficiency, the Ombudsman has the legal authority to order the financial institution to reimburse or compensate that loss up to a peak limit of โ‚น30 lakh.

      Practice Next
      ask-question