SC Directs RBI to Set Bank SOPs for Digital-Fraud Recovery
The Supreme Court has given RBI four weeks to frame bank SOPs for cyber-fraud accounts, covering grievance redressal and fund recovery. States must also operationalise cyber-crime coordination centres and e-Zero FIR processes within a month.
The Supreme Court directed RBI to create bank SOPs for cyber-fraud accounts, including grievance redressal and recovery mechanisms. States must operationalise cyber-crime centres and adopt e-Zero FIR processes, strengthening safeguards for India’s digital-payment ecosystem.
Why this matters
The court directive adds a consumer-protection mandate to RBI’s recent agenda, which also includes planning FY28 polymer ₹10 and ₹20 note pilots.
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