There is a big relief news for the people using digital payments. The Reserve Bank of India (RBI) has released a new draft framework to prevent online fraud and fraud in digital transactions. Under this, if a customer is cheated online, his loss can be compensated by the bank. This proposal will be very helpful for those who use UPI or internet banking and often become victims of cyber fraud.
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How much money will you get back in case of online fraud?
According to the new draft of RBI, if a customer is defrauded up to Rs 50,000, he will be compensated. According to the rules, the ‘genuine victim’ will get back 85% of his loss or a maximum of Rs 25,000 (whichever is less).
However, some conditions have also been imposed for this:
The customer will get this compensation only once in his life (One-time compensation). A complaint will have to be lodged with the bank and the National Cyber Crime Reporting Portal (Helpline 1930) within 5 days of the fraud occurring. This rule will be applicable to small value frauds so that the common man can get immediate relief.
If the bank makes a mistake, the entire money will be returned.
RBI has clarified that if the fraud occurs due to the negligence of the bank or any deficiency in the system, then the customer will not bear any responsibility. In such cases the customer Zero Liability Will get the benefit of Rs., i.e. he will get the entire money back. Whether the customer has reported it or not, if the mistake is the bank’s, then the bank will compensate.
Apart from this, even if there is a glitch in any third party system and the customer reports it within 5 days, his liability will be considered zero. The most important thing is that now it will be the responsibility of the bank to prove whether the customer has made a mistake or not.
When will this rule come into effect?
According to RBI Governor Sanjay Malhotra, this step has been taken to increase customer confidence in digital payments. This draft has been released on 6 March 2026 and people’s opinion has been sought on it till 6 April 2026.
According to the proposed plan, these new rules 1 July 2026 Can be implemented from. Initially this arrangement will be in force for one year, after which RBI will review it and may also consider increasing the compensation amount.