RBI Governor Sanjay Malhotra announces limited liability framework, ₹25,000 compensation
Business
Starting January 1, 2027, the Reserve Bank of India (RBI) is rolling out a limited liability framework to help people hit by digital banking frauds.
Announced by RBI Governor Sanjay Malhotra, this move means victims of small-value scams could get up to ₹25,000 in compensation, making online payments a bit safer for everyone.
RBI and banks boost fraud prevention
To fight ongoing risks, RBI is teaming up with banks to spot and prevent fraud early.
They're also spreading the word through campaigns like Digital Payment Awareness Week and RBI Kehta Hai, reaching users across India, including those in rural areas.
Plus, Malhotra highlighted how banks should use tech like AI to boost security and keep your data safe as digital transactions grow.