Mumbai, Feb. 6 -- Reserve Bank of India Governor Sanjay Malhotra on Friday announced a set of measures aimed at enhancing customer protection, advancing financial inclusion, enhance flow of credit, strengthening urban cooperative banks (UCBs), promoting ease of doing business for NBFCs, and deepening financial markets.

For customer protection, the governor proposed issuing three draft guidelines: one on mis-selling; two on the recovery of loans and the engagement of recovery agents; and three on limiting customer liability for unauthorised electronic banking transactions.

It has also been proposed to introduce a framework to compensate customers up to Rs 25,000 for losses incurred in small-value fraudulent transactions.

In the monetary...