Question

    What is the maximum compensation that can be awarded by

    the Banking Ombudsman under the Reserve Bank of India's scheme?
    A ₹25,000 Correct Answer Incorrect Answer
    B ₹50,000 Correct Answer Incorrect Answer
    C ₹75,000 Correct Answer Incorrect Answer
    D ₹1,00,000 Correct Answer Incorrect Answer
    E ₹5,00,000 Correct Answer Incorrect Answer

    Solution

    Under the Banking Ombudsman Scheme, the maximum compensation that may be awarded to a customer is ₹1 lakh for loss due to service deficiency, harassment, or mental agony.

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