RBI plans to empower ombudsman to award up to ₹30 lakh compensation to aggrieved bank customers

The Reserve Bank of India is enhancing the banking ombudsman scheme. Customers may receive up to Rs 30 lakh for losses. An additional Rs 3 lakh can be awarded for harassment and time spent on grievances. Co-operative bank customers can now approach the ombudsman from November 1.

from Markets-Economic Times https://ift.tt/IL2ogqN
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