Mumbai, Feb. 6 -- Reserve Bank of India Governor Sanjay Malhotra on Friday proposed to issue three draft guidelines for customer protection: one, relating to mis-selling; two, regarding recovery of loans and engagement of recovery agents; and three, on limiting liability of customers in unauthorised electronic banking transactions.

Reading the monetary policy statement, the RBI Governor announced a set of measures which are 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.

It has also been proposed to introduce a framework to compensate customers up to an amount of Rs 250...