RBI Announces ₹25,000 Compensation for Low-Value Digital Bank Fraud

• RBI proposes a framework to compensate customers up to ₹25,000 for losses from low-value fraudulent digital transactions.
• The initiative aims to boost customer confidence and provide relief from increasing digital fraud.
• RBI Governor Sanjay Malhotra announced three draft guidelines focusing on miss-selling, loan recovery, and limiting customer liability in unauthorized electronic transactions.
• A discussion paper will be released on enhancing digital payment security, including additional authentication for vulnerable groups like senior citizens.
• These measures are intended to make digital transactions safer and more secure for all users.