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UPI Payment Fraud: What Are the Liabilities of the Bank vs. the Digital Wallet User?

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More often than not, an illegal UPI transaction causes much more perplexity than the financial harm that results from it. While the victim holds the bank accountable, the bank holds the customer responsible, and the payment service provider escapes responsibility by claiming that it merely helped with the transaction. When all the parties start passing blame around, the critical issue remains unclear – who bears the legal responsibility?   There is no universal answer to that. In accordance with Indian laws, legal responsibility for the fraud depends on the circumstances in which the fraud was committed, whether the customer used reasonable caution, and whether the bank or the payment service provider complied with the guidelines established by the Reserve Bank of India.   Liability Is Decided by Facts, Not Sympathy   One of the biggest misconceptions surrounding digital payment fraud is that banks must refund every unauthorised transaction. That is not what t...
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The Strategic Importance of Contract Negotiation for High-Stakes Corporate Mergers

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 Mergers are some of the most complex business transactions. Although financial evaluation is what gets the most focus, the success of any merger will be determined by the level at which the terms of the merger have been negotiated before finalising the deal. There are many aspects involved in any merger that go beyond transferring ownership or merging two companies. These include planning involving assets, liabilities, intellectual property rights, people, regulations, governance, and business activities going forward, thus making negotiation of contracts a key component for determining value, risks, and business sustainability. As Indian corporations continue to develop across various sectors such as technology, healthcare, manufacturing, financial services, infrastructure, and digitisation, they find themselves involved in complex merger transactions that require resolving contractual matters. What is the Negotiation of a Contract? Negotiation of a contract involves dis...
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Location: Action Area III, Chotto Chandpur, Newtown, West Bengal, India
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Why Having a Strong Legal Safeguard Matters More Than Most MSME Founders Realise

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MSMEs often do not fail due to bad products or a lack of opportunity for doing business. Often, MSMEs have problems due to the fact that entrepreneurs ignore legal issues while launching and growing their businesses. Unresolved issues with the contract, failure to comply with legal requirements, legal disputes related to property rights, and lack of good business risk management can become obstacles on the road to success. Legal support for growing businesses allows entrepreneurs to avoid these troubles via contract management, compliance management, drafting, and legal risk assessment. In the Indian context, legal protection is an important tool not only for dispute settlement but also for preventing risks and protecting one's property and business interests.   Key Takeaways ●        Legal safeguards help MSMEs prevent disputes and protect business interests. ●        Business agreement drafting specialists...
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Location: Esplanade Mansion, Marx Engels Beethi Rd, Chowringhee North, Bow Barracks, Kolkata, West Bengal 700069, India
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