Search Results for: limited liability

RBI has opened the doors for Cyber Insurance for E Banking Frauds

…manage their risks by having a limited liability clause in their policies with sub limits for various causes, now the overall liability of the customer itself would have been brought… Continue reading

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At Last, the Limited Liability Circular is Operationalized

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… Continue reading

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Limited Customer Liability on Bank Frauds.. Your Comments solicited by RBI

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… Continue reading

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“Zero Liability” for Bank frauds… Customers need to take some precautions…

…transaction, the per transaction liability of the customer shall be limited to the transaction value or the amount mentioned in Table below, whichever is lower. Maximum Liability of a customer… Continue reading

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What is Negligence of the Customer under RBI’s circular on Limited Customer Liability?

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… Continue reading

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Limited Liability on Electronic Banking Frauds also extends to Cooperative Banks

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… Continue reading

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