Question

    What is the maximum amount of compensation that can be awarded by the Banking Ombudsman?

    A Rs 10 lakhs Correct Answer Incorrect Answer
    B Rs 20 lakhs Correct Answer Incorrect Answer
    C Rs 25 lakhs Correct Answer Incorrect Answer
    D Rs 30 lakhs Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    The Banking Ombudsman can award upto maximum amount of Rs 20 lakhs whereas Rs 1 lakh can be awarded maximum towards the mental agony and harassment. There is no fee involved in filing a complaint with the banking ombudsman in India.

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