RBI plans shared liability for digital frauds

ET OnlineThe RBI, in its Payments Vision Document 2028, is working towards introducing a shared responsibility framework under which both the customer’s bank (issuer) and the beneficiary’s bank would jointly bear liability for unauthorised digital payment transactions.This approach is expected to incentivise both parties to strengthen fraud detection and prevention systems, improve coordination for timely intervention, and enhance overall consumer protection and trust in digital payments.In its...