Current Affairs · Digital Fraud & Consumer Protection
Regarding the conceptual framework of liability in the RBI's proposed digital fraud compensation rules, which of the following best explains the allocation of financial responsibility for unauthorized transactions that occur after a customer has officially filed a report?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1The bank must bear the entire subsequent loss if unauthorized transactions continue to occur after the customer has officially reported the initial fraud within the stipulated window.✓
- 2The customer must bear the entire loss of subsequent transactions if they failed to provide the transaction reference numbers of the initial fraud at the time of reporting.
- 3The compensation for subsequent transactions is capped at 85% of the net loss or ₹25,000, whichever is lower, consistent with the initial fraud claim limits.
- 4The bank and the customer share the subsequent loss equally (50-50) to encourage the customer to immediately freeze all linked accounts and change digital credentials.
Correct answer
The bank must bear the entire subsequent loss if unauthorized transactions continue to occur after the customer has officially reported the initial fraud within the stipulated window.
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