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Tit for TAT: Lenders seek reset of compensation rules on ATM fraud

Banks are flagging a new ATM fraud to the Reserve Bank of India. This power-off fraud tricks systems into dispensing cash during withdrawals. Banks want clearer rules to avoid paying for these fraudulent transactions. Existing compensation guidelines are being exploited. This issue is causing significant disputes and financial losses for banks across India.

17 Feb 2026 1:18 am