Question
Under bank ombudsman scheme, bank ombudsman has given
the power to provide compensation up to ----.Solution
Limit on the amount of compensation (Award): The amount, to be paid by the bank to the complainant (The person registering the complaint) by way of compensation for any loss suffered by the complainant is the lower of- Loss suffered due to any act or omission of the Bank â‚ą 20 lakhs (â‚ą Two Million)
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