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Customers won’t have to bear loss in case of fraudulent transactions, says RBI

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[vc_row][vc_column][vc_column_text]In an attempt to curb the payment fraud, the Reserve Bank of India on Thursday imposed a cap on the customer liability in case of any unauthorised electronic banking transactions.

Customers will not suffer any loss if money withdrawn from their accounts through unauthorised electronic banking transactions by third-party fraudsters is reported within three days, the RBI said.

The RBI has also mandated banks to credit the amount involved in the customer’s account within 10-days. In case, the third party fraud is reported with a delay of four to seven working days, a customer will face a maximum liability of up to Rs 10,000 in the case of savings bank account and up to 25,000 in the case of credit card limits of over Rs 5 lakh.

“The longer the time taken to notify the bank, the higher will be the risk of loss to the bank/customer,” the RBI added.

While issuing revised directions on ‘Customer Protection – Limiting Liability of customers in unauthorised electronic banking transactions’, the RBI said that any loss occurring after reporting of the unauthorised transaction will be borne by the bank.

“With the increased thrust on financial inclusion and customer protection and considering the recent surge in customer grievances relating to unauthorised transactions resulting in debits to their accounts or cards, the criteria for determining the customer liability in these circumstances have been reviewed,” the RBI said.

In the case of a third party breach, where the deficiency lies neither with customer nor with the bank but lies elsewhere in the system then a customer will be entitled to zero liability. Entitlement to zero liability will also arise where the unauthorised transactions occur due to contributory fraud/negligence/deficiency on the part of the bank irrespective of whether or not the transaction is reported by the customer, the RBI stated.

The central bank has further stated that banks must ask customers to mandatorily register for SMS and e-mail alerts, for electronic banking transactions.

“Though the RBI guidelines is in the interest of customers, it is equally important for customers to remain vigilant and report unauthorised transactions immediately to the bank by the fastest mode and take acknowledgement of the same,” said AC Mahajan, chairman of Banking Codes and Standards Board of India.[/vc_column_text][/vc_column][/vc_row]

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In poll-bound Bihar, Amit Shah reminds people of Lalu Yadav’s era from 1990 to 2005, RJD reminds of Gujarat’s jungle raj

Tejashwi Yadav, Leader of Opposition in the Bihar Assembly, dismissed Shah’s claims, questioning the tangible benefits of the alleged financial aid.

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In a charged political atmosphere ahead of the Bihar Assembly polls, Union Home Minister Amit Shah, addressing a public rally in Gopalganj on Sunday, launched a scathing attack on Rashtriya Janata Dal (RJD) supremo Lalu Prasad Yadav, accusing him of plunging the state into chaos during his tenure from 1990 to 2005.

Shah, who arrived in Patna on Saturday, also held a meeting with National Democratic Alliance (NDA) leaders at the Chief Minister’s residence.

Speaking to a large crowd, Shah alleged that the Lalu-Rabri regime was synonymous with “jungle raj,” marked by lawlessness, murders, abductions, and the infamous fodder scam.

“Lalu Prasad did nothing for Bihar’s rural economy or development. Several sugar mills shut down, and the state suffered under his misrule,” Shah claimed, asserting that people reject the return of such disorder. He predicted a landslide victory for the NDA in the upcoming elections.

The Home Minister contrasted this with the BJP-led NDA’s efforts, claiming that while the previous United Progressive Alliance (UPA) government at the Centre allocated only ₹2.80 lakh crore to Bihar, the NDA provided ₹9.23 lakh crore, focusing on the state’s overall growth.

RJD leaders hit back fiercely. Shakti Singh Yadav, an RJD leader, accused Shah of hypocrisy, labelling him the “hero of Gujarat’s jungle raj and atank raj.” He pointed to the alleged deterioration in law and order under the BJP-JD(U) government in Bihar over the past two decades, citing rising crime rates.

Tejashwi Yadav, Leader of Opposition in the Bihar Assembly, dismissed Shah’s claims, questioning the tangible benefits of the alleged financial aid. “Big promises are made during elections, but they vanish post-polls. If Modi has given money, specify the sectors and show the work done in 20 years,” he challenged.

RJD MP Misa Bharti defended Lalu Prasad, highlighting his contributions as Railway Minister, including setting up three factories and establishing six universities in Bihar during his and Rabri Devi’s tenure.

The verbal duel escalated as Shah accused RJD supremo Prasad of involvement in multiple scams, including the fodder, bitumen, and flood relief material scams, alleging that those who “ate up fodder” could not prioritize public welfare.

The fodder scam, exposed in the 1990s when Jharkhand was part of Bihar, saw crores fraudulently withdrawn from state treasuries, with Lalu Prasad among those convicted.

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Ballia woman death: Family rejects police claim of suicide, demands CBI probe

Authorities claim she was distressed and had viewed a YouTube video about suicide prior to her death.

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In Ballia, police have arrested two individuals in connection with the suspicious death of a young woman whose body was discovered hanging from a tree with her hands restrained. The incident has been classified as a potential suicide, but the victim’s family is adamant that she was murdered and is advocating for a Central Bureau of Investigation (CBI) inquiry.

The deceased, identified as Pooja, aged 20, was found in the Sarya Gulab Rai village within the jurisdiction of the Nagara police station on March 23. Police reports suggest that Pooja took her own life after her boyfriend blocked her number, as she was set to marry another man on April 25. Authorities claim she was distressed and had viewed a YouTube video about suicide prior to her death.

On Saturday, two men, Lalu Chauhan from Pooja’s village and Ram Dulare from Mau district, were taken into custody for their alleged roles in abetting her suicide and have since been remanded in jail. Superintendent of Police Omveer Singh indicated that Pooja had reached out to these individuals regarding her distress, but they failed to inform her family or the police of her situation.

The police investigation, based on a post-mortem report and other evidence, has led them to conclude that the case is leaning towards suicide. However, the family has lodged a complaint against four villagers, questioning the circumstances of Pooja’s death and alleging murder.

The formal autopsy was recorded on video and conducted by a panel of medical professionals, revealing no external injuries that would suggest foul play. Despite this, the family remains skeptical. Pooja’s sister, Neha, voiced her concerns in front of reporters, asserting that the police narrative is misleading and that the claim about watching a suicide video is unfounded given the restrictions on such content.

Neha is calling for a CBI investigation, citing a lack of trust in local law enforcement. Pooja’s father, Dharamraj, who himself works as a security guard at a police station, questioned how a suicide could occur under such bizarre circumstances, notably with the victim’s hands and feet tied.

The investigation continues, with officials stating that the evidence collected thus far does not strongly implicate the individuals named in the initial complaint, although they are pursuing all avenues in this complex case.

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At least 1 dead, several injured after 11 coaches of the Bangaluru-Kamakhya Express derails in Odisha

The accident occurred around 11:54 AM in the Cuttack-Nergundi Railway Section under the Khurda Road Division of East Coast Railway, as per the reports.

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In a tragic incident on Sunday, at least one passenger lost their life, and eight others sustained injuries when 11 coaches of the Bengaluru-Kamakhya AC Superfast Express derailed near Nergundi station in Odisha’s Cuttack district.

The accident occurred around 11:54 AM in the Cuttack-Nergundi Railway Section under the Khurda Road Division of East Coast Railway, as per the reports.

Subash Chandra Ray, the Administrative Officer of SCB Medical College and Hospital, confirmed that “one body has been recovered, and three teams of doctors have been engaged to treat the injured passengers”. The identity of the deceased remains unknown.

Odisha Chief Minister Mohan Charan Majhi expressed his concern on the social media platform X, stating, “Deeply concerned about the derailment of Kamakhya Express near Nergundi station in #Cuttack. Grateful that all passengers are safe. Authorities are on-site, ensuring assistance and restoring normalcy at the earliest. Helplines activated for support.”

In response to the crisis, the National Disaster Response Force (NDRF) and fire services were promptly mobilized, and a relief train was dispatched to the site, as per Ashok Kumar Mishra’s statement to India Today.

Railway authorities, including the Divisional Railway Manager (DRM) Khurda Road, the General Manager of ECoR, and other senior officials, rushed to the location. An accident relief and medical relief train were also sent to the spot, according to PTI.

Due to the derailment, several train routes have been diverted, and ECoR officials are making alternate arrangements to ensure passengers reach their destinations, after which restoration works will commence, reported by media. The Railways have issued helpline numbers for assistance: 8455885999 and 8991124238.

The cause of the derailment is currently under investigation, and railway authorities are working tirelessly to restore normalcy on the affected track section, as per the reports.

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