General Knowledge · General Awareness

Analyze the following statements regarding the 'Zero Liability' provision under RBI's Customer Protection - Limiting Liability of Customers in Unauthorised Electronic Banking Transactions guidelines: (I) Zero Liability applies if the unauthorized transaction is due to the bank's negligence, irrespective of whether the customer reports it. (II) Zero Liability applies if the loss is due to a third-party breach and the customer reports it within four working days of receiving the communication. (III) Zero Liability implies the customer's full refund and is not subject to any caps on the transaction amount.