Court Orders Bank To Refund Rs 76 Lakh, Says Account Holder Not Liable For Unauthorized Transactions Due To Third Party Breach: Bombay High Court
In a significant ruling, the Bombay High Court has directed HDFC Bank to refund Rs. 76,90,017 to a customer who fell victim to unauthorized electronic banking transactions. The case, presided over by Justices Firdosh P. Pooniwalla and G. S. Kulkarni, highlights the protections afforded to consumers under the Reserve Bank of India's (RBI) guidelines on unauthorized electronic banking transactions and the bank's own Consumer Protection Policy. Unauthorized Transactions and Cyber…
