New Delhi, Oct. 31 -- Digital frauds have become quite common in India, with scammers using tactics such as fake customer care numbers, phishing links, fraudulent investment schemes and impersonation calls to trick people, mostly senior citizens, into transferring money or sharing sensitive banking details.

In many cases, victims realise they have been scammed only after money has been debited from their bank accounts, leaving them to navigate the process of reporting the fraud and seeking a refund.

However, under new rules mandated by the Reserve Bank of India (RBI) you may no longer have to bear the entire loss from digital fraud. Victims can receive compensation of up to 85% of their net loss or Rs.25,000, whichever is lower.

The ne...