RBI’s Digital Fraud Compensation Rules: Victims To Get Up To ₹25,000

The Reserve Bank of India (RBI) has issued directives to limit the liabilities of customers in cases of unauthorised electronic banking transactions or digital fraud. Customers losing up to ₹50,000 due to unauthorised digital transactions will now be eligible for compensation of up to 85% of the net loss amount or ₹25,000, whichever is lesser, once in their lifetime. The compensation will be funded jointly by the RBI, which will foot 65% of the bill, while the customer’s bank will provide 10% of