RBI plans ₹25,000 cover for small digital fraud losses

The Reserve Bank of India on Friday proposed a set of consumer protection steps to guard users against digital fraud, including a plan to compensate customers up to ₹25,000 for losses from small-value fraudulent transactions. Governor Sanjay Malhotra said the central bank will also release a discussion paper on steps to improve digital payment safety, such as lagged credits and extra authentication for groups like senior citizens.