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NPCI unveils norms for banks to compensate AePS fraud victims
The National Payments Corporation of India (NPCI) has introduced detailed guidelines for banks to redress frauds perpetrated on customers and merchants where a misuse or an error in biometric data or UIDAI seeding on Aadhaar Enabled Payment System (AePS) have led to a loss of funds.
As per AePS fraud liability guidelines, introduced formally from September 1, NPCI has issued new rules for acquiring and issuing banks on responsibilities to deal with such fraudulent transactions that caus ..
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