If the transaction has happened because of your negligence, that is, because of your sharing your password, PIN, OTP , etc., you will have to bear the loss till you report it to your bank. If the fraudulent transactions continue even after you have informed the bank, your bank will have to reimburse those amounts. If you delay the reporting, your loss will increase and it will be decided based on the RBI guidelines and the policy approved by your bank's board.
Reserve Bank of India (2024)
References
- https://www.rbi.org.in/commonperson/english/Scripts/SMSLimitedliability.aspx
- https://victimconnect.org/learn/types-of-crime/financial-fraud/
- https://www.sofi.com/learn/content/what-to-do-if-there-is-a-bank-error-in-your-favor/
- https://thesterlingfirm.com/can-i-sue-for-fraud/
- https://www.gnplawoffice.com/articles/the-withdrawal-of-money-from-an-atm-by-the-use-of-force-or-threa/
- https://cutterlaw.com/faqs/can-you-sue-for-emotional-distress-california/
Top Articles
What is the refund timeline for rejected SWIFT payments from Aspire USD account?
How much will a $5,000 CD make in a year?
gudtinnal.online
Easily Build Custom Reports and Dashboards
Latest Posts
What is the US credit rating, and what does its downgrade mean?
Can I Get a Loan with a 550 Credit Score? | Bankrate
Article information
Author: Aracelis Kilback
Last Updated:
Views: 6228
Rating: 4.3 / 5 (44 voted)
Reviews: 91% of readers found this page helpful
Author information
Name: Aracelis Kilback
Birthday: 1994-11-22
Address: Apt. 895 30151 Green Plain, Lake Mariela, RI 98141
Phone: +5992291857476
Job: Legal Officer
Hobby: LARPing, role-playing games, Slacklining, Reading, Inline skating, Brazilian jiu-jitsu, Dance
Introduction: My name is Aracelis Kilback, I am a nice, gentle, agreeable, joyous, attractive, combative, gifted person who loves writing and wants to share my knowledge and understanding with you.