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RBI’s steps to fix small fraud losses
Mint Bangalore
|February 07, 2026
The Reserve Bank of India (RBI) on Friday unveiled measures aimed at protecting customers, including compensation for those who fall prey to minor frauds, as well as plans to curb the mis-selling of financial products.
Governor Sanjay Malhotra said that the central bank will issue three draft guidelines for customer protection. The first concerns mis-selling; the second, the recovery of loans and the engagement of recovery agents; and the third, limiting customer liability for unauthorized electronic banking transactions.
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