Banking · Customer Liability in Electronic Transactions
What is the general principle of Customer's Liability on Unauthorized Electronic Transactions according to RBI guidelines in cases where the loss is due to customer negligence?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1The liability is equally shared between the customer and the bank.
- 2The bank must always bear the entire loss.
- 3The customer must bear the entire loss until they report the unauthorized transaction to the bank.✓
- 4The customer has zero liability regardless of the circumstances.
Correct answer
The customer must bear the entire loss until they report the unauthorized transaction to the bank.
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