RBI’s New Rule: Now bank will give your money back in online fraud

News India Live, Digital Desk: Rbi’s new rule: If yes, then there is a great news for you! The Reserve Bank of India (RBI) has recently made some new and extremely important rules, which further strengthen your money safety in cases of online fraud. Now your worry is over! The RBI has made it clear that if you have any fraud, then how long will the banks return your money and how much responsibility will be.

It is very important to know because digital transactions have become part of our life nowadays, and along with this the risk of fraud has increased. This step of RBI is a great relief for common customers.

So what are the new rules of RBI and how long will your money get back?

The RBI has clarified the responsibilities of banks and customers in cases of unauthorized electronic transactions (ie, transactions from your account without your will.

Whose mistake, how long will the money get back?

1. If the customer is at fault:

   • If you have shared information with someone with your negligence (eg OTP or PIN), and because of that, the bank will not be responsible for it and you will not get any money back. So do not share your confidential information with anyone!

2. If the bank’s mistake is:

   • If the fraud is due to any deficiency in the system of the bank, due to negligence or mistake on their end, then the bank gets the customer Will have to return all the moneyEven if the customer has also given information about fraud. This is the direct responsibility of the bank.

3. If the mistake is of third party or system (most common):

   • This is the situation when fraud is caused by disturbances in a hacker, malware or system, and neither the customer’s direct mistake, nor the direct negligence of the bank.

   • On reporting within 3 days: If you have cheated Within three working days If you have informed the bank, then the bank to you Will have to return all the moneyThis rule is very important for your safety!

   • On reporting within 4 to 7 days: If you have reported fraud within 4 to 7 working days, then you Refund of up to ₹ 25,000 Can be found. This limit depends on the type of transaction.

   • On reporting after 7 days: If you have reported after 7 working day, then you No refund will be foundIn this situation, the customer will have to suffer losses.

Most important thing:
As soon as you feel that you have been cheated, Immediately inform your bank! The sooner you report, the sooner your money will be safe and the greater the chances of getting the refund. Call your bank’s customer service number or helpline or immediately go to the branch.

This new rule is a major step to protect customers’ money, which will also inspire banks to further strengthen their safety systems. So if this happens now, do not panic, just immediately inform the bank and know your rights!

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