CURRENT AFFAIRS

Detailed explanation-1: -Maharashtra reported 233 cases of ATM fraud in 2018-19, the highest in the entire country, Reserve Bank Of India (RBI) data, accessed by TOI, revealed.

Detailed explanation-2: -Within 4-7 Days - Limiting liability of customers, RBI guidelines require customers to bear with the transaction amount or an amount within Rs 5000 upto Rs 25,000, whichever is lower in case the unauthorised transaction complaint is made after 3 days and before 7 days.

Detailed explanation-3: -The fraud reports should be sent to the concerned Regional Office of the Reserve Bank, Department of Banking Supervision, under whose jurisdiction the Head Office of the bank falls, in the format given in FMR – 1, within three weeks from the date of detection.

Detailed explanation-4: -Guidelines for reporting frauds to Police/CBI Therefore, as a general rule, the following cases should invariably be referred to the State Police: Cases of fraud involving an amount of Rs. 1.00 lakh and above, committed by outsiders on their own and/or with the connivance of bank staff/officers.