BusinessConsumer Court Orders SBI to Compensate Cyber Fraud Victim
The Nagpur District Consumer Disputes Redressal Commission held SBI's Tumsar branch responsible for ignoring a timely cyber fraud complaint. The bank was ordered to refund Rs. 5,00,250 with 9% annual interest from July 18, 2021, and pay Rs. 30,000 as compensation and litigation costs. The commission found SBI deficient under the Consumer Protection Act, 2019, emphasizing banks' duties to act on fraud reports.
News18 Tech··Nagpur



