Search Results for: bank fraud

It was brought to my attention yesterday that an IT professional in Bangalore had ordered a Mac Air Book online and made payments to two individuals having accounts in SBI Aizwal and SBI , IIT Powai branches. It appears from the … Continue reading →

Times of India carried a report today headlined ‘Banks lost Rs 88553 an hour to Cybercrime in last 3 years”. According to the report, the total money lost from April 1, 2014 to June 30, 2017 due to Cyber Crime … Continue reading →

A Bold Initiative by RBI Just as our PM Mr Modi bit the bullet by demonetizing the Rs 500/1000 notes despite the stiff resistance from many, RBI has bit the bullet in issuing the Zero Liability guideline on E Banking … Continue reading →

Yesterday, I highlighted the plight of a customer of State Bank of India Musiri branch in Tamil Nadu who lost Rs 49773/- through a fraud. We can recall here the decision of the Adjudicator of Tamil Nadu in the case of … Continue reading →

This is an open letter to The Manager, State Bank of India, Musiri Branch, Tiruchirapalli Branch, Tamil Nadu. Dear Sir I am informed that on June 7th 2017, 5 fraudulent withdrawals have been made from one of the customer’s of … Continue reading →

Globalization of Indian IT business has created many challenges to the Indian economy as a whole and in particular to certain domain specific regulators. One such regulator who finds himself frequently under a bind is RBI while regulating the Foreign … Continue reading →