RBI proposes 60-day limit on account holds in fraud cases
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- on freezing bank
- 60-day limit
The Reserve Bank of India (RBI) has proposed a 60-day limit on freezing bank accounts linked to cyber fraud. This framework aims to protect customers from prolonged access issues while ensuring banks can act swiftly against fraudulent transactions. The draft follows a Supreme Court order for standardized procedures in handling such cases.
Not investment advice. For informational purposes only.