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Sbi ordered to waive of 4.09 LAKH towards CREDIT CARD fraud

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224°
Deal Lieutenant
jioanupt

https://indianexpress.com/article/cities/bangal...

Interestingly despite the individual gave Card details & OTP .... Consumer court ordered to waive off quoting RBI 3 DAY customer ZERO LIABILITY AND EVEN GOT 30000 COMPENSATION

..... Interesting case outside of RBI ombudsman.... Hopefully it wouldn't be appealed or further legal proceedings

But still it's a consumer centric move in short term 

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Deal Lieutenant Deal Lieutenant
DEEPANGEORGE
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3rd Party breach -> I think the court took this as fault elsewhere in the system, and not in the hands of customer as well as the financial institution

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Typical indian financial institution threatening lol hahahahaha

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A good result for complaining within 3 days:) WIN FOR THE CUSTOMER - (i welcome this move personally) 

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Like 1
Benevolent Benevolent
baludesi
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well said. all those 3 points stand with the customer
Like 1
Hotshot Hotshot
arko1983650
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I think it takes 3 days to settle transaction. So cc could have reversed it but they didn't do it. so i  think court gave correct judgement.
Like 2
Helpful Helpful
neel648
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So I have a chance to receive my 50k fraud money
Deal Lieutenant Deal Lieutenant
DEEPANGEORGE
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Ya only if card owner complained within 3 days of transaction
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Deal Cadet Deal Cadet
MagicalChat
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Zero liability feature is not in all cards
Flame Flame
Stone_man
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Kindly share a list of all the cards that allow this feature. 
Deal Lieutenant Deal Lieutenant
jioanupt
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Zero liability is RBI guidelines not to specific card category.... It's on all under RBI regulations subject to 3 day reporting 
Like Fire 2
Helpful Helpful
simhapur
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Good. Voted Up.
Like 1
replyuser
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