<h1>RBI Boosts Consumer Protection: Expands Ombudsman, Limits Liability in Unauthorized Transactions, and Enhances Financial Awareness.</h1> The Reserve Bank of India (RBI) has emphasized the importance of consumer protection in the digital financial landscape. It has implemented various initiatives, such as the Banking Ombudsman Scheme, to ensure customer grievances are addressed efficiently. The RBI has also introduced measures to limit customer liability in unauthorized electronic transactions and expanded the Ombudsman framework to include non-banking financial companies and prepaid payment providers. The RBI's Consumer Education and Protection Department focuses on balancing information asymmetries and ensuring fair treatment. The RBI aims to enhance consumer awareness and streamline grievance redressal processes to maintain trust in the financial system.