Mint Explainer | RBI’s digital fraud compensation proposal: Who will get refunds and how it will work
For instance, if compensation of ₹25,000 is paid, the RBI will contribute ₹19,118, while the customer’s bank and the beneficiary bank will contribute ₹2,941 each. For smaller fraud losses, the RBI may bear up to 65% of the compensation, according to the draft rules.
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