Question: Someone transferred a large sum out of my savings account through net banking overnight. I only called my bank's helpline on the fifth working day after I noticed it. Will the money be reversed, and am I liable for any part of it
Answer: Your liability depends on how quickly you reported the unauthorised transaction after the bank notified you of it. If you report within 3 working days, you bear zero liability regardless of fault, unless you contributed to the fraud. If you report between 4 and 7 working days, your liability is limited to the transaction amount or a per-account-type cap, whichever is lower, as prescribed under the RBI framework. Reporting after 7 working days makes your liability subject to the bank's Board-approved policy. In every case, the bank must credit the disputed amount to your account within 10 working days of notification, without waiting for insurance recovery, and must resolve the complaint within 90 days.

Supporting evidence:
title: rbi.org.in/Notification.aspx
quote: Within 3 working days Zero liability Within 4 to 7 working days The transaction value or the amount mentioned in Table 1 , whichever is lower Beyond 7 working days As per bank’s Board approved policy the bank shall credit (shadow reversal) the amount involved in the unauthorised electronic transaction to the customer’s account within 10 working days from the date of such notification
context: ain for wider dissemination. The existing customers must also be individually informed about the bank’s policy.

7. Overall liability of the customer in third party breaches, as detailed in paragraph 6 (ii) and paragraph 7 (ii) above, where the deficiency lies neither with the bank nor with the customer but lies elsewhere in the system, is summarised in the Table 2 : Table 2 Summary of Customer’s Liability Time taken to report the fraudulent transaction from the date of receiving the communication Customer’s liability (₹) Within 3 working days Zero liability Within 4 to 7 working days The transaction value or the amount mentioned in Table 1 , whichever is lower Beyond 7 working days As per bank’s Board approved policy The number of working days mentioned in Table 2 shall be counted as per the working schedule of the home branch of the customer excluding the date of receiving the communication. Reversal Timeline for Zero Liability/ Limited Liability of customer
8. On being notified by the customer, the bank shall credit (shadow reversal) the amount involved in the unauthorised electronic transaction to the customer’s account within 10 working days from the date of such notification by the customer (without waiting for settlement of insurance claim, if any). Banks may also at their discretion decide to waive off any customer liability in case of unauthorised electronic banking transactions even in cases of customer negligence. The credit shall be value dated to be as of the date of the unauthorised transaction.
9. Further, banks shall ensure that: a complaint is resolved and liability of the customer, if any, established within such time, as may be specified in the bank’s Board approved policy, but not exceeding 90 days from the date of receipt of the complaint, and the customer is compensated as per provisions of paragraphs 6 to 9 above; where it is unable to resolve the complaint or determine the customer liability, if any, within 90 days, the compensation as prescribed in paragraphs 6 to 9 is paid to the customer; and in case of debit card/ bank account, the customer does not suffer loss of interest, and in case of credit card, the customer does not bear any additional burden of interest. Board Approved Policy for Customer Protection

10. Taking into account the risks arising out of unauthorised debits to customer accounts owing to customer negligence/ bank negligence/ banking system frauds/ third party breaches, banks need to clearly define the rights an