Question
What is the maximum compensation amount the RBI Ombudsman can award for consequential loss under the Ombudsman Scheme effective July 1, 2026?
Solution
Under the Ombudsman Scheme coming into force on July 1, 2026, the RBI Ombudsman can award up to ₹30 lakh as compensation for consequential loss suffered by the complainant. This is distinct from the ₹3 lakh compensation cap for time loss and mental anguish.
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