MUMBAI, India, June 24 -- Reserve Bank of India issued the following press release:
As announced in the Statement on Developmental and Regulatory Policies dated February 6, 2026, the Reserve Bank had issued the draft Reserve Bank of India (Responsible Business Conduct) Third Amendment Directions, 2026 on March 6, 2026 for seeking feedback from stakeholders. The draft Amendment Directions inter alia proposed to enhance the scope of existing instructions on limiting liability of customers in unauthorised electronic banking transactions to cover other categories of fraudulent electronic banking transactions, reduce the time taken by banks to process complaints related to fraudulent electronic banking transactions, and introduce a compensation...