Online Banking Frauds – How well does the RBI cover you?

Online Banking Frauds – How well does the RBI cover you?

If the digital world hasn’t psyched you enough about possible online frauds while making payments or accessing your accounts online, here’s more…. Well not exactly! The RBI recently came down with a set of norms on customer liability during an online banking fraud. Is there good news? Yes. The RBI brought this move due to the surging complaints regarding unauthorized banking transactions. Here are the quick facts:    The responsibility of proving the liability of the customer in an unauthorized transaction rests with the bank.  Also, the liability…

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