Reserve Bank of India (RBI) introducing the concept of ‘zero liability’ and ‘limited liability’ for bank customers for any card or online fraud. A customer will have zero liability in respect of a fraudulent transaction if there is contributory fraud or negligence on the part of the bank. The customer will also not be liable if there is a third party breach, without bank involvement, which is reported to the bank within three working days of receiving communication regarding the unauthorized tra
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