RBI’s rule on digital fraud compensation should push banks to invest in modern systems to protect customers
Within banking, RBI’s Annual Report for 2024-25 recorded 13,516 digital payment fraud cases, representing 56.5% of all banking frauds, with losses of ₹520 crore. One in five families with a UPI user has been hit at least once, yet 51% never file a complaint so official figures understate the reality.
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