RBI Mandates Stricter Customer Protection for Digital Banking Frauds
Banks must now send mandatory SMS alerts for all digital transactions exceeding ₹500 to improve real-time fraud monitoring.
In cases of third-party security breaches, a customer will have zero liability if the fraud is reported within 5 calendar days of the incident.
Perspective: The framework includes a 65:10:10 funding split for compensations, where RBI (via DEA Fund) covers 65% of the loss up to a ₹25,000 cap.
Key Facts / Static GK
Cyber Crime Helpline Number: 1930.
Banking Regulation Act: 1949.
Practice Quiz — 9 March 2026
Q1. What is the total value of the Open Market Operation (OMO) bond purchase announced by the RBI for March 2026?
Q2. According to WHO standards, what is the required prevalence rate for a country to be considered to have eliminated leprosy as a public health problem?
Q3. Consider the following statements regarding the Hurun Rich List 2026: 1. India added a net total of 57 billionaires last year. 2. Mumbai is the billionaire capital of Asia. 3. Ritesh Agarwal is the youngest billionaire in India. Which of the statements is/are correct?
Q4. Which Indian state is the first to propose a ban on social media usage for children under the age of 16 in its 2026-27 budget?
Q5. Match the entity with its role in the SBI USD 500 Million Social Loan: 1. SBI - a. Mandated Lead Arranger 2. MUFG - b. Borrower 3. SDG-5 - c. Target Goal
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