Current Affairs · Banking & Financial Sector Reforms
RBI's draft amendment directions on customer protection in digital transactions aim to revisit the 2017 framework in light of rapid digitalisation. Which of the following was specifically proposed?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Complete transfer of liability to the customer unless fraud is bank-side
- 2Elimination of the complaint window for small-value fraud
- 3A compensation mechanism for small-value fraudulent digital transactions and faster complaint resolution✓
- 4Mandatory insurance cover for every UPI user funded by banks
Correct answer
A compensation mechanism for small-value fraudulent digital transactions and faster complaint resolution
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