The zero liability policy which has already been implemented in a few countries is still to find a place in India. There is still debate going on about the issue but RBI has alluded that it is in favor of it.

In India,credit card issuers are liable for the fraudulent transactions made from the card only when the customer has reported about it.

Banks are of the opinion that they take ample measure to make sure that the transactions made by the customer are secure. They expect the customers to be responsible enough to at least report if they have lost the card.