Reserve Bank of India (RBI) launches 2018 Financial Literacy Week

On June 4, the Reserve Bank of India (RBI) has launched Financial Literacy Week (FLW-2018) across the country with Customer Protection as its main theme. The event will focus on creating awareness among customers of banks about financial products and services, good financial practices and going digital. It will give out four consumer protection messages including ‘know your liability’ for unauthorised electronic banking transaction and good practices for a safe digital banking experience. Among various messages, customers will be told through banners and posters that in case of unauthorised digital transaction if bank is informed within 3 days, the liability of the account holder is zero. Resolution of complaint is to be done by the bank concerned within period not exceeding 90 days from the date of receipt of the complaint.