The Economic Times

RBI acts on fraud: Customers to get up to Rs 25,000 compensation for losses incurred in small value fraudulent transactions, announces RBI

Bank customers who fall victim to small value financial fraud can now receive compensation. The Reserve Bank of India announced this new policy. Victims may get up to Rs 25,000. This decision was made by RBI Governor Sanjay Malhotra. The Monetary Policy Committee also kept the policy repo rate unchanged. This aims to protect customers from financial losses.