RBI rolls out one time rescue card for scam victims
Synopsis The RBI has expanded customer protection rules for digital payment frauds to cover cases where people are tricked into sending money to scammers and
Synopsis The RBI has expanded customer protection rules for digital payment frauds to cover cases where people are tricked into sending money to scammers and introduced a compensation mechanism for small-value frauds. Eligible victims can receive up to 85% of their losses, subject to a cap of ₹25,000. The rules take effect from January 1, 2027.
The BriefWire