Search Results for: limited liability

At one time, Bankers were considered trusted individuals and respected in the community. But with the advent of technology, Bankers of the older generation receded into the background and technologists came into the Banking profession. Today Technologists have become Bankers … Continue reading →

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 … Continue reading →

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 →

After a long wait, the Limited Liability Circular issued on August 11, 2016  (Also refer an earlier article), has now been operationalized. In a notification released today, RBI has finally issued the circular as an operational circular. (Earlier circular was … Continue reading →

At the cost of repetition, we must congratulate RBI on its recent circular of August 11, on Customer Service in which they have proposed that customer’s liability on cyber frauds should be limited. Presently, a draft circular has been issued … Continue reading →

In a long awaited but highly welcome move, RBI has released a “Draft Circular” for public comments on “Limited Liability” for customers in case of frauds in Internet Banking and Card transactions. Suggestions/comments, if any, on the Draft Circular may be … Continue reading →