Banking · RBI Customer Liability Guidelines
Ms. Priya, a bank customer, notices an unauthorized Rs 50,000 transaction via Mobile Banking on a Friday. She received the SMS alert immediately but only reported it to the bank on the following Thursday (6 working days later). The investigation reveals the loss was due to a third-party system breach (with no negligence on the part of either the customer or the bank). Based on RBI guidelines, what is Ms. Priya's maximum liability?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
Share:
- 1The liability is split equally (Rs 25,000)
- 2Limited liability based on the type of account (ranging from Rs 5,000 to Rs 25,000)✓
- 3Full liability of Rs 50,000
- 4Zero Liability
Correct answer
Limited liability based on the type of account (ranging from Rs 5,000 to Rs 25,000)
Download Single Question PDF
Save this question and verified answer as a clean study sheet with live clickable link.
👥
Share with Friends & Study Groups
Challenge your peer aspirants on WhatsApp or Telegram to solve this question!
Online Test Series
Start Free Mock Test →Preparing for Banking?
Practice full-length mock tests with real exam timers, instant score analysis, and all-India ranking.
Chapter Practice
Practice RBI Customer Liability Guidelines MCQs →Want more practice questions on RBI Customer Liability Guidelines?
Solve complete topic-wise tests with detailed solutions on GkGet.
Related Practice Questions
Recommended practice questions in Banking · RBI Customer Liability Guidelines