Naavi.org has been highlighting the fact that banks are conducting “Unsafe Banking” in pursuance of “Profit before Customer Service” and pushing Customers into greater and greater risks.
RBI has through the 2001 guidelines on Internet Banking and again through the Information security guidelines (GGWG) in 2011 has mandated that Banks need to ensure proper cyber security and also cover themselves with Cyber Insurance. However, Banks have not upgraded their security but going for higher and higher levels of untested technology.
The Adjudicator of Maharashtra had provided several awards in favour of the customers and Bankers were very much dissatisfied. Eventually, the Adjudicating officer was transferred.
Simultaneously the Karnataka Adjudication system has been kept closed since the IT secretary is not interested.
As of now the entire system of Adjudication across the country has been paralyzed.
It is also well known that probably it is the influence of the Banks that the post of the Cyber Appellate Tribunal (CAT) remains unfilled for four years.
Cases which are already before CAT are in a limbo.
Now it is learnt that all the affected Banks in Mumbai are considering challenging the decision of the Adjudicator of Maharashtra in High Courts. From the recent verdict of a High Court in Bangalore we know that any lower court verdict can be turned upside down if necessary even using a faulty calculator to add. Banks have the resources which can work wonders with our system.
It is therefore necessary for Netizens and public spirited lawyers to be vigilant and ensure that Courts donot take decisions which are anti cyber crime victims under the influences that banks can mount on them. Consumer protection organisations also need to step in now to see that injustice is not done to bank fraud victims.
In any such litigation, RBI must also be made a party to clarify its stand on “Security in Banking system”.
I wish media also turns its attention on this class action by Banks against its own customers to cheat them of their hard earned savings in pursuance of the greed for more profits by Banks.
Naavi
