Particulars | Maximum liability of Customer (PPI holder) (₹) |
---|---|
In case of contributory fraud/ negligence/ deficiency on the part of the Company (irrespective of whether or not the transaction is reported by the PPI holder). | Zero liability |
Third party breach where the deficiency lies neither with the Company nor with the customer but lies elsewhere in the system, and the customer notifies the Company regarding the unauthorised payment transaction. The per transaction customer liability in such cases will depend on the number of days lapsed between the receipt of transaction communication by the customer from the Company and the reporting of unauthorised transaction by the customer to the Company - | |
i. Within three days* | Zero Liability |
ii. Within four to seven days* | Transaction value or Rs. 10,000 per transaction, whichever is lower. |
iii. Beyond seven days* | Transaction Value |
In cases where the loss is due to negligence by a PPI Holder,such as where he has shared the payment/login credentials, the Customer will bear the entire loss until he/she reports the unauthorized transaction to the Company. Note: Any loss occurring after the reporting of the unauthorized transaction shall be borne by the Company. | Actual Transaction value |