Banking · Customer Liability in Electronic Transactions
According to RBI guidelines on Customer's Liability on Unauthorized Electronic Transactions, in a third-party breach where the deficiency lies neither with the bank nor with the customer (but elsewhere in the system), what is the customer's liability if they report the transaction within 3 working days of receiving the communication from the bank?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1The liability is determined at the bank's sole discretion.
- 2The customer is liable for a fixed amount of Rs 10,000.
- 3The customer has Zero Liability.✓
- 4The customer is liable for the full transaction value.
Correct answer
The customer has Zero Liability.
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