E Banking Dispute Resolution Center to be activated

Naavi has been maintaining several information oriented websites and certain online services all of which are parts of resolving online disputes.

For example,

Naavi.org provides information on Cyber law, Cyber Crimes etc and creates awareness for the consumers about their rights in case some thing goes wrong in cyber space.

Ceac.in provides services towards capturing evidence which is in electronic  form which needs to be presented in a Court of law in India.

Cyber-notice.in provides service to place public notices on Cyber space when required.

Odrglobal.in provides an online mediation and arbitration facility which can be used for any dispute resolution.

Now, in the context of the recent RBI’s draft circular dated August 11, 2016, on “Limited Liability for Customers on E Banking Frauds” which requires certain specific procedure to be followed by victims of e-banking frauds to claim the benefits under the circular, Naavi.org proposes to provide an integrated E-Banking Dispute Resolution Center to assist customers of E-Banking who need to file their complaints in the unfortunate event of suffering losses from Cyber crimes, ATM or Credit/Debit Card frauds and Mobile Wallet frauds.

The E Banking Dispute Resolution Center proposes to do the following:

a) Enroll members for the service to whom necessary guidance for safe e-banking practices would be provided.

b) Provide facility for filing ceac-certified notices on receipt of phishing e-mails

c) Provide facility for filing disputes on receipt of any fraudulent debit alerts from Banks

d) Provide assistance to mediate with the Banks on determination of limited liability as per the norms fixed by RBI

e) Provide assistance from a panel of Cyber Lawyers who may represent the customers in different legal proceedings at judicial proceedings.

At an appropriate time, efforts would be made to bring in Cyber Insurance cover to the members.

The objective of the service is to enable reduction of losses caused by ignorance and bad e-banking practices by the public, provide assistance for resolving the disputes under the norms prescribed by RBI and to negotiate for residual risk coverage through Cyber Insurance when available.

This is a long term mission for which the foundation is being laid now.

The service will be formally activated and more detailed information made available after the RBI issues the confirmatory circular which should happen after the deadline of August 31, 2016 given for public comments.

The project is in the stage of being launched and any person who would like to join the project and contribute towards its stated goals is welcome to contact Naavi.

In the meantime, if any of the readers have not yet responded to the RBI circular, please do so before August 31, 2016. (For details refer this article)




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About Vijayashankar Na

Naavi is a veteran Cyber Law specialist in India and is presently working from Bangalore as an Information Assurance Consultant. Pioneered concepts such as ITA 2008 compliance, Naavi is also the founder of Cyber Law College, a virtual Cyber Law Education institution. He now has been focusing on the projects such as Secure Digital India and Cyber Insurance
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