There is relief news for digital banking users. RBI has presented a big proposal for digital fraud victims in the Monetary Policy meeting. According to the draft guidelines, in small value digital fraud cases, customers can get compensation up to 85% of the loss or a maximum of ₹ 25,000. The special thing is that even if the OTP or PIN is shared by mistake, the customer can be entitled to this compensation. This facility will be available only once in life. In view of the increasing fraud risk of senior citizens, security measures like extra authentication are also proposed. However, these are draft rules right now.
RBI’s Big Relief Plan for Digital Fraud Victims. Money Live | RBI’s Big Relief Plan for Digital Fraud Victims
