Why this Bombay HC ruling could change how banks handle cyber fraud
The Bombay HC invoked the RBI’s ‘zero liability’ clause to protect a Pune senior citizen whose life savings were siphoned off by cyber fraudsters from his bank account in less than an hour. The court’s decision also sent a stern warning to private banks regarding their responsibilities in safeguarding customer funds
The Bombay HC invoked the RBI’s ‘zero liability’ clause to protect a Pune senior citizen whose life savings were siphoned off by cyber fraudsters from his bank account in less than an hour. The court’s decision also sent a stern warning to private banks regarding their responsibilities in safeguarding customer funds
