Customer Protection – Limiting Liability of Customers in Unauthorised Electronic Banking Transactions

Unauthorised or fraudulent electronic banking transaction in your account?

Do not panic. 

Follow the steps outlined by the RBI in the following notification.

"Customer Protection – Limiting Liability of Customers in Unauthorised Electronic Banking Transactions"

The Reserve bank of India (RBI) on 6th July 2017 amid the national drive toward digital transactions and rising incidents of fraud, had notified the norms in order to fix the liability in cases if a person loses money through an unauthorized electronic banking transaction like cyber attack on the bank or hacking of account.

Read RBI notification here:

DBR.No.Leg.BC.78/09.07.005/2017-18

https://www.google.com/url?sa=t&source=web&rct=j&url=https://rbidocs.rbi.org.in/rdocs/notification/PDFs/NOTI15D620D2C4D2CA4A33AABC928CA6204B19.PDF&ved=2ahUKEwjUk-OM0bDwAhVtzzgGHTjoAVEQFjADegQIFxAC&usg=AOvVaw088s3dB_PYeb4Ki8CujJ67&cshid=1620152507485

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Disclaimer:

These guides are not legal advice, nor a substitute for a lawyer. These articles are provided freely as general guides for legal awareness in the Society. Laws are updated/amended regularly by concerned authorities. Please check for the latest & updated laws with your legal advisor.