E-banking a right, more safety for depositors
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The RBI has significantly bolstered consumer protection. Digital banking access is now a basic entitlement for Jan Dhan and no-frills account holders, with a framework review planned. Depositor safety is enhanced as DICGC shifts to risk-based premiums. Furthermore, the internal ombudsman mechanism is strengthened, empowering them to award compensation and directly address grievances, ensuring robust financial redressal. What's Your Reaction?
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