The Reserve Bank of India has proposed a framework to compensate customers for small-value fraud losses — up to ₹25,000 — arising from unauthorized online banking, UPI, or card transactions.
Key highlights:
✔ Proposed compensation ceiling: ₹25,000
✔ Covers small-value digital fraud cases
✔ Draft framework to be released for public feedback
✔ Focus on reducing customer hardship
✔ Strengthening digital payment safeguards
RBI is also reviewing rules around mis-selling, recovery practices, and customer liability — aiming for stronger consumer protection and clearer accountability.
Why this matters:
Digital payments are growing rapidly. A standardized compensation mechanism improves trust, reduces disputes, and ensures faster relief for affected customers.
Stay vigilant. Report fraud immediately to maximize protection.
— Financial awareness builds financial security.
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