Crime & Law · India
Banks Ordered to Compensate Customers for Financial Errors and Fraud
Multiple banks have been ordered to compensate customers for financial losses due to errors and fraud. State Bank of India was directed to pay Rs 1.30 lakh to a customer for unauthorized ATM transactions, failing to produce CCTV footage and explain fund transfers. Another bank was ordered to pay Rs 65,000 after failing to recover Rs 45,000 transferred to a wrong account. Separately, a bank agreed to refund and compensate a Kerala man who lost money to a scratch card fraud.
How outlets across the spectrum covered it
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- Centre (2): The Indian Express, The Times of India