https://www.taxtmi.com/news?id=18555 The RBI mandates a Board-approved cyber-security policy under its Cyber Security Framework to identify and mitigate cyber risks; banks must provide reversal procedures for erroneous debits, a published customer protection policy detailing compensation for unauthorised electronic transactions and grievance-escalation mechanisms, and these remedial avenues are supplemented by the Banking Ombudsman Scheme allowing customers to seek compensation for bank omissions and non-pecuniary harm. en-us Tue, 01 Aug 2017 18:15:15 +0530 Tue, 01 Aug 2017 18:15:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=18555 The RBI mandates a Board-approved cyber-security policy under its Cyber Security Framework to identify and mitigate cyber risks; banks must provide reversal procedures for erroneous debits, a published customer protection policy detailing compensation for unauthorised electronic transactions and grievance-escalation mechanisms, and these remedial avenues are supplemented by the Banking Ombudsman Scheme allowing customers to seek compensation for bank omissions and non-pecuniary harm. News - Tue, 01 Aug 2017 18:15:15 +0530 https://www.taxtmi.com/news?id=18555