India’s central banking authority, the Reserve Bank of India, has proposed a new rule that could significantly reshape how digital fraud victims are compensated. The draft proposal introduces a ₹25,000 cap on compensation for certain categories of online fraud cases, a move aimed at bringing clarity and uniformity to consumer protection within India’s rapidly expanding digital payments ecosystem.
The proposal comes at a time when digital payments have surged across the country, powered by platforms such as National Payments Corporation of India’s Unified Payments Interface, mobile wallets, and online banking services. While these innovations have transformed financial transactions, they hav
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