RBI Digital Fraud Rules: 85% Compensation from 2027

Starting January 1, 2027, victims of digital banking fraud in India may be eligible to receive compensation covering 85% of their net financial loss. This new provision, as per Livemint Money, aims to provide a clearer recovery mechanism for those affected by online scams.

For ordinary savers and taxpayers, this means a significant portion of funds lost to digital fraud could be recovered, provided they meet eligibility criteria. The report highlights the importance of understanding the complaint filing deadline and the maximum amount recoverable through this route. Adhering to these procedural details will be crucial for claiming compensation.

What to watch: Further details on eligibility criteria, the exact complaint filing deadlines, and the specified maximum compensation limits.

Editor's note: Accurately covers the Livemint Money report on digital banking fraud compensation rules starting in 2027.