Current Affairs · Banking and Digital Economy

Statement 1: Mobile Banking service standards in India require that banks provide an automated mechanism for customers to report unauthorized electronic transactions. According to RBI guidelines on customer liability, if a customer reports a third-party breach fraud within three working days, their liability is zero. Statement 2: Immediate Payment Service (IMPS) is a real-time electronic funds transfer system that operates 24/7/365, allowing instant transfer between participating banks. The maximum limit for a retail transaction via IMPS is capped at five lakh rupees. Statement 3: Digital Banking Units (DBUs) are specialized fixed-point business hubs providing paperless digital banking services in self-service mode. Government mandates strictly require that these units must be staffed by at least ten bank employees at all times, prohibiting any minimal human intervention models. Choose the correct option based on the statements given above: