CURRENT AFFAIRS

Detailed explanation-1: -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-2: -The penalties have been imposed in exercise of powers vested in RBI under the provisions of Section 47A(1)(c) read with Sections 46(4)(i) and 51(1) of the Banking Regulation Act, 1949, taking into account the failure of the banks to adhere to the aforesaid directions issued by RBI.

Detailed explanation-3: -Landline Number: 011 – 26517507 Extn: 188.