RBI will pay you if you get scammed on digital channels
Worried about getting scammed online? The RBI is stepping in with a new plan:
If you lose money to digital payment fraud on covered commercial-bank channels, you may be eligible for up to 85% of your loss (capped at ₹25,000) for gross losses up to ₹50,000, subject to the scheme's eligibility rules and effective date.
It is all about making digital payments safer as scams rise.
How the payment will be split
If your loss is under ₹29,412, the RBI covers most of it (65%), and both your bank and the receiver's bank chip in 10% each.
For bigger losses (up to ₹50,000), the RBI pays a fixed amount and banks split the rest.
You will need to report the fraud within 5 days through your bank or the 1930 helpline or portal, and you only get one claim in your lifetime.
If scammers tricked you with a real OTP, that is covered too.
New rules come into effect from July 1, 2026
This move means faster help for most small-to-mid-sized fraud cases, so victims are not left hanging while banks sort things out.
The new rules kick in from July 1, 2026.
For anyone who uses digital payments (which is pretty much everyone now), this could be real peace of mind.