Banking · Dispute Resolution Mechanism
In RTGS, if a transaction is settled but later disputed for unauthorised debit, and the originating bank fails to reverse within 10 days per RBI dispute resolution mechanism, what ombudsman remedy is available?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Automatic reversal
- 2Bank liable for interest loss
- 3No remedy if settled
- 4Compensation up to ₹1 lakh✓
Correct answer
Compensation up to ₹1 lakh
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