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 works

In some relief for digital fraud victims, the Reserve Bank of India has announced that they can be compensated 85% of the net loss amount or Rs 25,000, whichever is lower. This, however, applies to small value fraudulent electronic banking transactions (EBTs) involving a gross loss of up to Rs 50,000.

This means, if you happen to lose a gross amount of up to Rs 50,000 in an online fraud, you will be able to claim compensation. EBTs would include transactions like point of sale (POS) transfers, automated teller machine transactions, direct deposits or withdrawal of funds, transfers initiated by telephone, internet and card payment.