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      Question

      A customer reports unauthorized transactions on their

      digital banking app. Under RBI’s directions, if the customer informs the bank within 3 days, what is their liability?
      A Full loss Correct Answer Incorrect Answer
      B Partial liability up to ₹5,000 Correct Answer Incorrect Answer
      C Zero liability Correct Answer Incorrect Answer
      D Liability capped at ₹10,000 Correct Answer Incorrect Answer

      Solution

      As per RBI circular (2017), if customer reports within 3 days, they have zero liability for third-party fraud.

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