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RBI GUIDELINES FOR COMPLAINTS
Lost Rs 50,000 in digital fraud? Soon, you can get 85% amount back if you follow these rules - 3 calculations to explain how this worksAs per the latest RBI guidelines, if you have lodged a complaint for the fraudulent transaction within 5 calendar days, you shall be compen...- RBI finalises digital banking fraud protection rules; introduces shadow reversal, extends relief to sole proprietorsVictims of digital payment fraud losing up to Rs 50,000 can now get up to Rs 25,000 compensation from banks, effective January 1, 2027. The...
- Can a bank seize your vehicle after EMI default? What borrowers need to knowFacing vehicle repossession in India? Understand your rights: lenders can't seize your vehicle after just one or two missed EMIs without du...
- CBI arrests former CEOs of RCFL, RHFL in Reliance ADA Group loan diversion case; Rs 7,623 cr loss to PSBsAccording to the CBI, the two former executives are accused of causing a combined wrongful loss of Rs 7,623 crore to public sector banks. I...
- The safe keepers: Inside India's booming locker economyIndia’s locker economy is booming amid rising gold prices and household wealth. While banks remain the preferred repository, private vault ...
- Loan recovery agent harassing you? Know these 6 borrower rights that can protect you
- Harassed by loan recovery agents? Know your legal rights and 6 steps to fight backBorrowers struggling with debt often face harassment from recovery agents through abusive calls, threats, public shaming, and unauthorised ...
- RBI sharpens compliance norms, expands use cases of UPI-linked wallets for foreign visitors under draft PPI normsThe Reserve Bank of India has unveiled draft guidelines for prepaid payment instruments. These new rules aim to strengthen compliance and c...
- Has RBI announced 'new rules' for exchanging old Rs 500 & Rs 1,000 currency notes?Social media claims about the Reserve Bank of India allowing exchange of old Rs 500 and Rs 1000 notes are false. The official website of th...
- AT-1 case: Yes Bank does not expect material financial impact from Supreme Court rulingThe Supreme Court has officially concluded the hearings related to the Additional Tier-1 bond write-down of Yes Bank, with a verdict now on...
- RBI tightens complaint review norms, strengthens role of internal ombudsmanThe Reserve Bank of India has enhanced its review mechanism for customer complaints within regulated entities, mandating a senior-level rev...
- Rules planned to curb mis-selling of products by banks and NBFCsReserve Bank of India will soon release norms to stop mis-selling. This will protect consumers from misleading sales tactics. In FY25, the ...
- RBI streamlines Internal ombudsman scheme of banks, other financial institutions to help customersAs per the RBI governor, the consolidation of master guidelines will fine tune the redressal of customers' complaints. In November 2021, th...
- Fall in digital lending app complaints as rules kick inSurvey firm Local Circles also said that the number of complaints had reduced by 30-40% in the past four weeks.
- RBI investigating complaints against BNPL players“We have been receiving many complaints on digital lending frauds, we take immediate action against such cases. Whether the complaint is ma...
- No bank has power to employ bouncers to recover loansAnurag Thakur said the RBI has issued 'Guidelines on Fair Practices Code for Lenders' which are required to be adopted by banks, duly appro...
- RBI to set up compensation system for customer complaints across all payment systemsDespite the guidelines being in place, it is being observed by the central bank that the time taken to resolve the customer complaints vari...
- Chit fund scam probe hits Press Council of India's protocol hurdleAn investigation panel, involving RBI, ED, CBI, SFIO and the Sebi is apparently displeased with publication of misleading advertisements of...
- RBI received large number of credit card complaints against SBI, ICICI Bank in FY12: GovernmentDuring FY12, RBI received 5,198 complaints against SBI, followed by ICICI Bank (1,211) and HDFC Bank (1,153), FM said.
- RBI asks banks to consider issuing debit cards with photographTo prevent the use of stolen cards, the RBI today asked banks to consider issuing debit cards with photographs of the cardholders on them.
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