The Annual Report clarifies that pecuniary jurisdiction of the BO here applies to the amount of compensation that a BO can grant and not to the amount of transaction. Thus, the BO will take up complaints involving amounts exceeding Rs. 10 Lakh; however, the amount that he can award as compensation will be restricted to Rs. 10 Lakh or the amount of actual loss suffered by the complainant, whichever is lower.
Clause 12(6) refers to Credit Card related complaints where the BO can award compensation not exceeding Rs. 1 Lakh (0.1 Million) for loss of complainant's time, expenses incurred, harassment, etc.