By Admin 
RBI Digital Banking Fraud Compensation: In the digital age, while on one hand the facilities of the people have increased rapidly, on the other hand, cases of online fraud are also continuously coming to the fore. In view of such matters, the Reserve Bank of India (RBI) has presented an important proposal in the interest of the common people.
Under this, a provision has been made to provide compensation to the person who is a victim of digital banking fraud of small amount. Let us know about this…
RBI planning
According to the RBI proposal, the victim can get compensation up to a maximum of 85 percent of the loss. However, a maximum limit of Rs 25,000 has been fixed for this.
It has also been made clear that a person will receive this compensation only once. That means, if a person becomes a victim of digital fraud more than once, he will not be given compensation every time.
When can the new proposal come into effect?
A draft amendment has been issued by the Reserve Bank on 6 March. This draft also includes a proposal to provide compensation in cases of digital fraud involving small amounts. In fact, RBI is currently reviewing the existing framework related to customer responsibility in digital transactions. This topic was also mentioned by Central Bank Governor Sanjay Malhotra while presenting the monetary policy on 6 February.
The new rules may apply to electronic banking transactions done on or after July 1, 2026. At present it has been released in draft form and suggestions have been sought from people on it. Any person can give his opinion on this proposal till 6 April 2026.
How will the responsibility for compensation be divided?
If the loss suffered by a person is less than Rs 29,412 and the compensation is fixed at 85 per cent, then RBI itself will bear 65 per cent of that amount. The responsibility of the remaining 10-10 percent will have to be borne by the customer’s bank and the beneficiary bank.
Whereas if the total loss is between Rs 29,412 to Rs 50,000, then in such cases the maximum limit of compensation has been fixed at Rs 25,000. In this situation RBI will contribute Rs 19,118.
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