Under a new directive by the Reserve Bank of India, a customer will have zero liability in case of a fraudulent transaction if there is contributory fraud or negligence on the part of the bank. Further, if the customer reports a third party breach to the bank within three working days of receiving communication, he will not be held liable. Reportedly, the central bank's circular covers online transactions as well as face-to-face transactions in stores using electronic payments.
By Vikraman Maniraj | Jul 7, 2017 11:38 AM #OnlineTransactionFrauds #ZeroLiability
OTHER NEWS SHOTS
Read More News Stories