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Compensation for small-value digital frauds proposed
Financial Express Ahmedabad
|March 07, 2026
COVERAGE FOR UPTO 85% OF LOST AMOUNT
THE RESERVE BANK of India on Friday released draft guidelines for a compensation scheme aimed at protecting individuals from digital frauds.According to the guidelines, individuals who have lodged a complaint involving a gross loss of up to $50,000 on account of a fraudulent electronic banking transaction would be compensated 85% of the net loss amount, or %25,000, whichever is less, once during their lifetime.
The guidelines will be applicable for cases of electronic banking transactions undertaken by customers on or after July 1,2026.
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