Banking · RBI Guidelines and Regulations
Under the RBI guidelines on Limiting Liability of Customers in Unauthorised Electronic Banking Transactions, in which of the following scenarios is the customer's liability completely zero?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1The bank proves that the customer was negligent in sharing their login credentials and PIN.
- 2The customer fails to report an unauthorized transaction to the bank within 15 working days.
- 3The unauthorized transaction occurs due to a contributory fraud or system breach on the part of the bank, and the customer reports it within 3 working days.✓
- 4The loss is due to a third-party breach where the customer reports the incident after 7 working days.
Correct answer
The unauthorized transaction occurs due to a contributory fraud or system breach on the part of the bank, and the customer reports it within 3 working days.
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