RBI to Offer Up to Rs 25,000 Relief for Small Digital Frauds: No Questions Asked

• RBI introduces a compensation framework for small-value digital frauds, up to Rs 25,000 per customer.
• The framework covers cases where customers shared OTPs, provided the transaction is not mala fide.
• Governor Sanjay Malhotra stated, 'no questions asked' for lost money, subject to checks.
• Draft proposal suggests reimbursement of up to Rs 25,000 or 85% of the lost amount.
• A shared-loss model is proposed: customers bear up to 15%, banks 15%, and RBI covers the rest.