If the transaction has happened because of your negligence, that is, because of your sharing your password, PIN, OTP , etc., you will have to bear the loss till you report it to your bank. If the fraudulent transactions continue even after you have informed the bank, your bank will have to reimburse those amounts. If you delay the reporting, your loss will increase and it will be decided based on the RBI guidelines and the policy approved by your bank's board.
Reserve Bank of India (2024)
References
- https://www.medius.com/blog/how-do-banks-investigate-unauthorized-transactions/
- https://www.rbi.org.in/commonperson/English/Scripts/SMSLimitedliability.aspx
- https://www.fca.org.uk/consumers/unauthorised-payments-account
- https://gocardless.com/guides/posts/what-are-payment-reversals-and-how-to-avoid-them/
- https://financialrights.org.au/factsheet/reversing-bank-transactions/
- https://consumerprotection.net/bank-wont-refund-stolen-money/
Top Articles
Best Growth Stocks to Buy in India 2024 for Long-Term Investing
Investing in ELSS: Key Factors Worth Your Attention |Tata AIA Blogs
Good Day Sacramento Latest Videos
Postbulletin Obits
Method Holy Priest Guide - Gearing - Dragonflight 10.2.7
Restoration Druid Healing Gear and Best in Slot - Dragonflight 10.2.7
Baja Boats For Sale On Craigslist
Understanding Binary
4210 Fieldview Ct, Fresno, TX 77545 - MLS 29807090 - Coldwell Banker
Workers' Compensation Counsel (Remote in Fresno Area) at The Travelers Companies, Inc.
Town of Cornwall News | July 4th 2024 Parking Restrictions
Pickens County Recycling Locations | South Carolina Department of Environmental Services
Latest Posts
Events of 1962 - 1962 Year In Review - Audio - UPI.com
Swing Trading Vs Day Trading – How Are They Different?
Article information
Author: Wyatt Volkman LLD
Last Updated:
Views: 5940
Rating: 4.6 / 5 (46 voted)
Reviews: 93% of readers found this page helpful
Author information
Name: Wyatt Volkman LLD
Birthday: 1992-02-16
Address: Suite 851 78549 Lubowitz Well, Wardside, TX 98080-8615
Phone: +67618977178100
Job: Manufacturing Director
Hobby: Running, Mountaineering, Inline skating, Writing, Baton twirling, Computer programming, Stone skipping
Introduction: My name is Wyatt Volkman LLD, I am a handsome, rich, comfortable, lively, zealous, graceful, gifted person who loves writing and wants to share my knowledge and understanding with you.