🚨 Unauthorized Bank Transaction? RBI Rules Protect You — But Only If You Act Fast! 🚨
As per the RBI Circular dated 06.07.2017 on “Limiting Liability of Customers in Unauthorised Electronic Banking Transactions”:
✅ ZERO LIABILITY OF CUSTOMER
You will not bear any loss if:
• The fraud occurred due to negligence, deficiency, or security failure on the part of the bank; or
• The fraud was caused by a third-party breach and you inform the bank within 3 working days of receiving the transaction alert.
⚠️ CUSTOMER MAY BE LIABLE
If the fraud occurred because of your negligence, such as:
• Sharing OTP, PIN, password, CVV, or banking credentials;
• Clicking suspicious links;
• Installing unknown applications;
• Allowing fraudsters access to your device or banking information.
In such cases, you may bear the loss until the fraud is reported to the bank.
📌 Important Takeaway
The RBI policy protects vigilant customers, not careless conduct. Report suspicious transactions immediately.
📞 If you notice an unauthorized transaction:
1️⃣ Inform your bank immediately.
2️⃣ Call Cyber Helpline 1930.
3️⃣ File a complaint at cybercrime.gov.in.
4️⃣ Preserve all screenshots and records.
⏰ Delay in reporting can reduce your protection under RBI guidelines.
Stay Alert. Stay Secure. Know Your Rights.
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