PoliticsPhoto: MintSupreme Court Criticizes RBI Over Cyberfrauds, Seeks Bank Liability
The Supreme Court reprimanded the Reserve Bank of India (RBI) for ongoing cyberfrauds, stating banks must compensate victims if their employees are involved. Chief Justice Surya Kant highlighted persistent digital arrest scams despite awareness efforts. The court questioned why banks waive large loans but avoid accountability for customer losses. Attorney General R. Venkataramani said RBI should address bank liability. A recent case involved a woman losing ₹2.5 crore in a digital arrest scam.
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