India, Feb. 7 -- Amid growing digital fraud, the Reserve Bank of India (RBI) on Thursday said that banking customers will receive compensation of up to INR 25,000 for a fraudulent transaction.A customer will be paid the compensation even in cases where the customer ends up sharing the one-time password (OTP) with the fraudsters, Reserve Bank Governor Sanjay Malhotra said.

The money will be paid to the bank customers from the INR 85,000 crore Depositor Education and Awareness (DEA) Fund, central bank officials said, making it clear that a customer can get compensation only once in a lifetime and provided that no malafide intent is found.Even though their overall value is low, two-thirds of the digital frauds are under INR 50,000 in amount...