Search Results for: bank
“Zero Liability for E Banking”… Let there be competitive compliance drive.. to join the Hall of Fame
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
“Zero Liability” for Bank frauds… Customers need to take some precautions…
After waiting for more than 10 months and repeated reminders at all levels including the Finance Minister and the Prime Minister, RBI finally came out with its circular of 6th July 2017 titled “Customer Protection-Limited Liability in Unauthorized Electronic Banking … Continue reading
Banking Ombudsman Scheme Amended…and scope expanded
For quite some time the RBI’s Banking Ombudsman Scheme has been defunct since the scope of the scheme has been interpreted by the Ombudsman as very limited. In most cases, Ombudsman have the habit of not only rejecting the complaints … Continue reading
Banks may become liable under Section 65 and 67C in Fraud cases..
I refer to the discussions we had in the case of the Phishing fraud at Musiri Branch of State Bank of India where I tried to provide some guidance to the Customer on what sort of complaint he has to … Continue reading
Banks want their negligence to be underwritten by the Customers. Do you agree Mr Urjit Patel?
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
Calling attention of Branch Manager, State Bank of India, Musiri Branch, Tamil Nadu
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