Search Results for: bank

On July 6, 2017, RBI released the “Customer Protection-Limiting Liability of Customers in Unauthorized Electronic Banking Transactions”. The circular indicated that a customer is entitled to “Zero Liability” in case of loss arising out of frauds in E banking in … Continue reading →

It was brought to my attention yesterday that an IT professional in Bangalore had ordered a Mac Air Book online and made payments to two individuals having accounts in SBI Aizwal and SBI , IIT Powai branches. It appears from the … Continue reading →

On July 6th 2017, RBI after 10 months of thinking, released the official confirmation of the “Zero Liability Circular”.  Naavi.org had urged the banks to go for a “Competitive Compliance Drive” and initiate measures to implement the provisions of the circular. … Continue reading →

Times of India carried a report today headlined ‘Banks lost Rs 88553 an hour to Cybercrime in last 3 years”. According to the report, the total money lost from April 1, 2014 to June 30, 2017 due to Cyber Crime … Continue reading →

A Bold Initiative by RBI Just as our PM Mr Modi bit the bullet by demonetizing the Rs 500/1000 notes despite the stiff resistance from many, RBI has bit the bullet in issuing the Zero Liability guideline on E Banking … Continue reading →

After waiting for more than 10 months and repeated reminders at all levels including the Finance Minister and the Prime Minister, RBI finally came out with its circular of 6th July 2017 titled “Customer Protection-Limited Liability in Unauthorized Electronic Banking … Continue reading →