Legal Tender in Economy
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Questions and Answers

What is the primary concern addressed by digital transactions in areas with poor internet connectivity?

  • Increased usage of mobile wallets
  • Accessibility of digital payment regulatory bodies
  • Error-free digital transactions (correct)
  • Improved internet connectivity

What is the role of the Digital Transactions Ombudsman (DTO)?

  • To hear customer complaints related to digital transactions (correct)
  • To regulate digital payment regulatory bodies
  • To design digital payment systems
  • To improve internet connectivity in rural areas

How many places across India have senior RBI officials designated as DTO?

  • 15 places
  • 21 places (correct)
  • 25 places
  • 10 places

What is the maximum amount of mental agony compensation that can be ordered by the DTO?

<p>₹ 1 lakh (C)</p> Signup and view all the answers

What is the next step if the customer is not satisfied with the DTO's decision?

<p>Appeal to the Deputy Governor of RBI (D)</p> Signup and view all the answers

What is the jurisdictional limit of the DTO?

<p>₹ 20 lakh (B)</p> Signup and view all the answers

What happens if the matter exceeds the DTO's jurisdictional limit?

<p>The customer approaches the courts (D)</p> Signup and view all the answers

What is the primary responsibility of digital payment regulatory bodies?

<p>To regulate digital transactions (A)</p> Signup and view all the answers

What is the purpose of the RBI designating senior RBI officials as DTO?

<p>To provide a grievance redressal mechanism for customers (B)</p> Signup and view all the answers

What is the scope of the DTO's powers?

<p>Extended to all digital transactions including mobile wallets and apps (B)</p> Signup and view all the answers

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