2018
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Detailed explanation-1: -Can compensation be claimed for mental agony and harassment? The Banking Ombudsman may award compensation not exceeding ₹ 1 lakh (₹ One Hundred Thousand) to the complainant for mental agony and harassment.
Detailed explanation-2: -However, for any consequential loss suffered by the complainant, the Ombudsman shall have the power to provide a compensation up to Rupees 20 lakh, in addition to, up to Rupees One lakh for the loss of the complainant’s time, expenses incurred and for harassment/mental anguish suffered by the complainant.
Detailed explanation-3: -Yes. The Banking Ombudsman may reject a complaint at any stage if it appears to him that a complaint made to him is: not on the grounds of complaint referred to above. compensation sought from the Banking Ombudsman is beyond ₹ 20 lakh (₹ Two Million).
Detailed explanation-4: -(9) The bank shall, unless it has preferred an appeal under Sub-Clause (1) of Clause 14, within one month from the date of receipt by it of the acceptance in writing of the Award by the complainant under Sub-Clause (8), comply with the Award and intimate compliance to the Banking Ombudsman.