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What is true of RBI's direction on 'Customer Protection — Limiting Liability of Customer's in unauthorised electronic Banking Transactions?
I. If the customers report to the banks regarding the loss they suffer through online banking transactions within three days then the amount involved will be credited to their accounts within a time period of 10 days.
II. There will be 'zero liability of a customer' in case of third party breach where the deficiency lies neither with the bank nor with the customer but elsewhere in the system.
III. In cases of customer reporting the third party fraud with a delay of four to seven working days, then the liability of customer in such cases would be upto Rs. 50,000.
  • a)
    I, II, III are correct
  • b)
    II and III are correct
  • c)
    I and II are correct
  • d)
    I and III are correct
Correct answer is option 'C'. Can you explain this answer?
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What is true of RBI's direction on 'Customer Protection &mdash...
Liability of customer in such cases would be upto Rs. 25,000/
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Liability of customer in such cases would be upto Rs. 25,000/
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Read the information given below carefully and answer the following question.The internet has become the integral part of today’s generation. Internet has touched every aspect of life. With the growing use of the internet by people, protecting important information has become a necessity. A computer that is not having appropriate security controls can be infected with malicious logic and thus any type of information can be accessed in moments. Hacking of important data, network outages, computer viruses and other cyber related threats affect our lives that range from minor inconvenience to serious incidents. Cyber threats can be caused due to negligence and vulnerabilities, or unintentional accidents. The main objectives of such type of system attackers or hackers are to steal confidential information, to make illegal monetarytransactions, to destroy or to change data and the like. System attackers usually use malicious logic or virus to gain unauthorized access to a computer. Opening email attachments that carry the virus, clicking malicious links or websites or unintentionally downloading a dangerous program are common ways through which a computer can be infected and data can be stolen. As the number of data networks, digital applications, as well as internet and mobile users are growing, so do the chances of cyber exploitation and cybercrimes. If accounts are not properly secured, it makes easier for hackers or unauthorized users to spread viruses or social engineered attacks that are designed to steal data and even money. Such types of issues highlight the need for cyber security as an essential approach in protecting and preventing data from being used inappropriately. In simple language, Cyber Security or Information technology security means protecting data, networks, programs and other information from unauthorized or unintended access, destruction or change. It encompasses all the mechanisms and processes that protect digital equipment, information and records from illegal or unintended access, manipulation or destruction. In today’s dynamic environment, cyber security has become vital for individuals and families, as well as organizations that collect and store a wide range of confidential data on computers and transmit that to other computers across different networks. Social networking sites have become the mostpopular medium for sharing information and connecting with other people. But these sites have created varied opportunities for cybercrimes, compromised personal identities and information leakage. Therefore, it is important for individuals to understand how to protect against cyber threats, and must also comprehend the difference between virtual and real world. One should learn how to protect computers and personal information from being hacked and should engage in appropriate online behaviour in order to eliminate changes of cyber threats and thereby creating a safer online environment.Q.According to the author, what is the main reasons behind cyber threats?

Read the information given below carefully and answer the following question.The internet has become the integral part of today’s generation. Internet has touched every aspect of life. With the growing use of the internet by people, protecting important information has become a necessity. A computer that is not having appropriate security controls can be infected with malicious logic and thus any type of information can be accessed in moments. Hacking of important data, network outages, computer viruses and other cyber related threats affect our lives that range from minor inconvenience to serious incidents. Cyber threats can be caused due to negligence and vulnerabilities, or unintentional accidents. The main objectives of such type of system attackers or hackers are to steal confidential information, to make illegal monetarytransactions, to destroy or to change data and the like. System attackers usually use malicious logic or virus to gain unauthorized access to a computer. Opening email attachments that carry the virus, clicking malicious links or websites or unintentionally downloading a dangerous program are common ways through which a computer can be infected and data can be stolen. As the number of data networks, digital applications, as well as internet and mobile users are growing, so do the chances of cyber exploitation and cybercrimes. If accounts are not properly secured, it makes easier for hackers or unauthorized users to spread viruses or social engineered attacks that are designed to steal data and even money.Such types of issues highlight the need for cyber security as an essential approach in protecting and preventing data from being used inappropriately. In simple language, Cyber Security or Information technology security means protecting data, networks, programs and other information from unauthorized or unintended access, destruction or change. It encompasses all the mechanisms and processes that protect digital equipment, information and records from illegal or unintended access, manipulation or destruction. In today’s dynamic environment, cyber security has become vital for individuals and families, as well as organizations that collect and store a wide range of confidential data on computers and transmit that to other computers across different networks.Social networking sites have become the mostpopular medium for sharing information and connecting with other people. But these sites have created varied opportunities for cybercrimes, compromised personal identities and information leakage. Therefore, it is important for individuals to understand how to protect against cyber threats, and must also comprehend the difference between virtual and real world. One should learn how to protect computers and personal information from being hacked and should engage in appropriate online behaviour in order to eliminate changes of cyber threats and thereby creating a safer online environment.Q.According to this passage, how the virus gets into the computers?

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What is true of RBI's direction on 'Customer Protection — Limiting Liability of Customer's in unauthorised electronic Banking Transactions?I. If the customers report to the banks regarding the loss they suffer through online banking transactions within three days then the amount involved will be credited to their accounts within a time period of 10 days.II. There will be 'zero liability of a customer' in case of third party breach where the deficiency lies neither with the bank nor with the customer but elsewhere in the system.III. In cases of customer reporting the third party fraud with a delay of four to seven working days, then the liability of customer in such cases would be upto Rs. 50,000.a)I, II, III are correctb)II and III are correctc)I and II are correctd)I and III are correctCorrect answer is option 'C'. Can you explain this answer?
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What is true of RBI's direction on 'Customer Protection — Limiting Liability of Customer's in unauthorised electronic Banking Transactions?I. If the customers report to the banks regarding the loss they suffer through online banking transactions within three days then the amount involved will be credited to their accounts within a time period of 10 days.II. There will be 'zero liability of a customer' in case of third party breach where the deficiency lies neither with the bank nor with the customer but elsewhere in the system.III. In cases of customer reporting the third party fraud with a delay of four to seven working days, then the liability of customer in such cases would be upto Rs. 50,000.a)I, II, III are correctb)II and III are correctc)I and II are correctd)I and III are correctCorrect answer is option 'C'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about What is true of RBI's direction on 'Customer Protection — Limiting Liability of Customer's in unauthorised electronic Banking Transactions?I. If the customers report to the banks regarding the loss they suffer through online banking transactions within three days then the amount involved will be credited to their accounts within a time period of 10 days.II. There will be 'zero liability of a customer' in case of third party breach where the deficiency lies neither with the bank nor with the customer but elsewhere in the system.III. In cases of customer reporting the third party fraud with a delay of four to seven working days, then the liability of customer in such cases would be upto Rs. 50,000.a)I, II, III are correctb)II and III are correctc)I and II are correctd)I and III are correctCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for What is true of RBI's direction on 'Customer Protection — Limiting Liability of Customer's in unauthorised electronic Banking Transactions?I. If the customers report to the banks regarding the loss they suffer through online banking transactions within three days then the amount involved will be credited to their accounts within a time period of 10 days.II. There will be 'zero liability of a customer' in case of third party breach where the deficiency lies neither with the bank nor with the customer but elsewhere in the system.III. In cases of customer reporting the third party fraud with a delay of four to seven working days, then the liability of customer in such cases would be upto Rs. 50,000.a)I, II, III are correctb)II and III are correctc)I and II are correctd)I and III are correctCorrect answer is option 'C'. Can you explain this answer?.
Solutions for What is true of RBI's direction on 'Customer Protection — Limiting Liability of Customer's in unauthorised electronic Banking Transactions?I. If the customers report to the banks regarding the loss they suffer through online banking transactions within three days then the amount involved will be credited to their accounts within a time period of 10 days.II. There will be 'zero liability of a customer' in case of third party breach where the deficiency lies neither with the bank nor with the customer but elsewhere in the system.III. In cases of customer reporting the third party fraud with a delay of four to seven working days, then the liability of customer in such cases would be upto Rs. 50,000.a)I, II, III are correctb)II and III are correctc)I and II are correctd)I and III are correctCorrect answer is option 'C'. Can you explain this answer? in English & in Hindi are available as part of our courses for UPSC. Download more important topics, notes, lectures and mock test series for UPSC Exam by signing up for free.
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