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Limiting Liability Of Customers In Unauthorised Electronic Banking Transactions

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Bank customer has zero liability for unauthorised transaction: HC

A customer has zero liability when an unauthorised transaction occurs due to a third party breach where the deficiency lies not with the bank or customer but somewhere in the system, the Bombay......

RBI fines Kotak Mahindra Bank, IndusInd Bank

The Reserve Bank on Monday said it has imposed penalties of about Rs 1 crore each on Kotak Mahindra Bank and IndusInd Bank for deficiencies in regulatory compliance. Photograph: Francis......

Good news for e-wallet fraud victims

Customers using mobile wallets, prepaid payments cards, and paper vouchers such as Sodexo have been absolved of liability for fraud if it is reported within three days. Illustration: Uttam......

He fought a bank and got back Rs 14 lakh

Thomas Ninad's bank account was defrauded of Rs 14 lakh under mysterious circumstances.Jehangir B Gai reveals what happened thereafter.Illustration: Uttam Ghosh/Rediff.com Thomas Ninad had a......

No customer liability for bank e-fraud reported in 3 days

Customers will not suffer any loss if unauthorised electronic banking transactions are reported within three days, and the amount involved will be credited in the concerned bank account......

How to ensure your bank account remains safe

With cyber criminals becoming savvier by the day, learning how to safeguard yourself is imperative. The data breach that has led to an estimated 3.2 million debit cards getting compromised is only......

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