Current Affairs · Banking Regulations
Under RBI's guidelines on 'Customer Protection in Unauthorised Electronic Banking Transactions', when a security breach or fraud occurs where the fault lies neither with the customer nor with the bank, but lies elsewhere in the system, and the customer notifies the bank within three working days of receiving the communication, the customer's liability is:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 150% of the transaction value.
- 2Limited to a maximum of Rs. 10,000 for basic savings accounts.
- 3Zero liability irrespective of the transaction value.✓
- 4Limited to the full transaction amount.
Correct answer
Zero liability irrespective of the transaction value.
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