The Reserve Bank of India has issued a circular “Customer Protection – Limiting Liability of Customers in Unauthorised Electronic Payment Transactions in Prepaid Payment Instruments (PPIs) issued by Authorised Non-banks” on January 4, 2019.
This is similar to the circular earlier issued for Banks and cooperative Banks
Accordingly, if the victim of a Cyber Crime informs the PPI issuer within 3 days, there shall be no liability.
Naavi
