Zero Liability on fraudulent Point of Sale usage on lost and stolen cards

Zero liability insurance is applicable for any fraudulent transaction on debit card. Zero Insurance is applicable where there is bank liability verified basis risk investigation.
Zero liability insurance is applicable for POS debit card transactions which are not authenticated using ATM PIN.
Cardholder will receive the credit, with a hold marked for the disputed amount within 5 days of the submission of the required documents, ie,
- FIR (In case if the FIR is in language other than Hindi / English, pls provide Notarised translated copy in English / Hindi)
- Dispute letter
- Indemnity letter
- Passport copies in case of international transaction dispute
Zero liability insurance is applicable for point-of sale(POS) transactions which are not authenticated using ATM PIN and not for ATM/online Debit Card/Netsafe transactions
The liability per card is restricted to a maximum of Rs. 4 lakh per card.(Except RuPay PMJDY Debit Card)
The liability per card for Platinum Debit Card is restricted to a maximum of Rs. 5 lakh per card.(This cover is applicable only for HNW/ Managed Customers)
The liability per card for Business Debit Card is restricted to a maximum of Rs. 5 lakh per card.
For Claims under Zero Liability to be accepted & processed, the cardholder should have carried out at least 1 purchase transaction using the Debit Card, within 90 days prior to the date of the disputed purchase transaction.
The findings of the Bank's investigation will be final and binding on the customer.
Cardholder cannot close the account till the hold funds for the said amount is released.
In case it is an unsigned card, Zero Liability will not be applicable; the cardholder will be liable for the transaction.
The Point of Sale transaction under dispute can be for a maximum of 90 days prior to the date of reporting of the loss of Debit Card to the Bank.
The case would be processed subject to the receipt of all required documents within 21 days of reporting of loss by the customer.
All necessary documents to be provided within 21 days of reporting of loss.
The Cardholder has not shown any delay or negligence in reporting the loss of the Card to the bank.