https://www.taxtmi.com/news?id=73518 Revised customer liability framework for digital banking transactions requires banks to strengthen systems for safe electronic banking, send instant SMS alerts for specified transactions, and record delivery and customer responses. On complaints of fraudulent transactions, banks must prevent further unauthorised activity, provide value-dated reversal where required, and apply zero liability rules for bank negligence or timely reported third-party breaches. A separate shadow reversal mechanism applies to fraudulent credit card transactions, and compensation is ed for small-value fraudulent transactions within stated limits. en-us Wed, 24 Jun 2026 19:31:03 +0530 Wed, 24 Jun 2026 19:31:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=73518 Revised customer liability framework for digital banking transactions requires banks to strengthen systems for safe electronic banking, send instant SMS alerts for specified transactions, and record delivery and customer responses. On complaints of fraudulent transactions, banks must prevent further unauthorised activity, provide value-dated reversal where required, and apply zero liability rules for bank negligence or timely reported third-party breaches. A separate shadow reversal mechanism applies to fraudulent credit card transactions, and compensation is ed for small-value fraudulent transactions within stated limits. News - Wed, 24 Jun 2026 19:31:03 +0530 https://www.taxtmi.com/news?id=73518