Question
Under the RBI Ombudsman Scheme, what is the maximum compensation that can be awarded for consequential loss suffered by a complainant?Â
Solution
The RBI Ombudsman or Deputy Ombudsman is empowered to award compensation up to ₹30 lakh for any consequential loss suffered by a complainant due to deficiency in service by a regulated entity. This provision enhances consumer protection and accountability.Â
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