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The Economic Times

Business / The Economic Times

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RBI proposes compensation for bank fraud losses up to Rs 50,000

New RBI proposals aim to protect bank customers from fraudulent electronic transactions, potentially offering compensation up to 50,000 even in cases of customer negligence. The draft regulations propose reimbursement of 85% of the net loss or 25,000, whichever is lower, with a lifetime benefit limit. Banks will bear the burden of proof for customer liability in fraud cases.

7 Mar 2026 7:48 am