Tech

Supreme Court Orders SBI to Refund Rs 94,000 to Cyber Fraud Victim

Published

2 years ago

January 9, 2025

New Delhi, Jan 9: In a significant judgment, the Supreme Court of India has directed the State Bank of India (SBI) to refund Rs 94,000 to a customer from Assam who fell victim to a cyber fraud. The ruling underscores the responsibility of banks to protect their customers’ funds from online scams, marking a pivotal moment in addressing cybercrime cases.

The Fraud Incident

The case involved a customer who was targeted by a scammer while trying to return a Louis Philippe blazer worth Rs 4,000. The fraudster, posing as a customer service representative, convinced the victim to download a malicious application. The app enabled the scammer to gain access to the victim’s SBI account, resulting in Rs 94,204 being stolen through multiple UPI transactions.

Investigators linked the scam to a 2021 data breach on the Louis Philippe website. The breach exposed sensitive customer data, including the victim’s contact details, which the scammer exploited to carry out the fraud.

Supreme Court’s Ruling

The Supreme Court held SBI accountable for the loss, ordering the bank to fully refund the victim’s money. The judgment emphasized:

The bank’s duty to safeguard customer accounts from cyber threats.
That customers should not bear the burden of financial losses caused by systemic vulnerabilities or third-party fraud. Impact of the Verdict

The ruling is expected to have far-reaching implications for the financial sector:

Strengthened Customer Protection: The judgment highlights the need for robust safeguards to protect customers from cyber fraud.
Improved Cybersecurity: Banks and financial institutions may face increased pressure to implement advanced security measures.
Data Breach Accountability: Companies handling customer data must take stronger steps to prevent information leaks.

Preventive Measures for Customers

The case serves as a reminder for individuals to remain vigilant against cyber fraud. Experts advise customers to:

Verify the authenticity of customer service representatives.
Avoid downloading unverified applications.
Regularly monitor bank statements for suspicious transactions.
Report unauthorized activities to the bank immediately. A Landmark Judgment

This decision by the Supreme Court sets a powerful precedent for handling cyber fraud cases. By holding SBI accountable, the court has reinforced the need for vigilance and responsibility in the digital era, offering hope for victims of online scams across the country.

Related Topics:Nammakudla New Delhi State Bank of India Supreme Court

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National

Google Marks India’s Independence Day With Vibrant Doodle

Published

4 days ago

August 15, 2026

Namma Kudla

Mangaluru: India is celebrating its Independence Day on August 15, 2026. Google has joined the celebrations with a special Doodle on its homepage.

The colourful Doodle reflects India’s rich culture and heritage. It features patterns inspired by traditional Indian textiles.

The artwork replaces the usual Google logo with bright colours and traditional motifs. It gives the familiar logo a distinct Indian look.

The Doodle also highlights India’s cultural diversity. Its detailed designs are inspired by India’s traditional art and textile heritage.

India became independent from British rule on August 15, 1947. The day is celebrated across the country with flag-hoisting ceremonies, cultural programmes, parades and other patriotic events.

Kite flying and cultural activities are also part of the Independence Day celebrations in many parts of the country.

India gained independence on August 15, 1947, after nearly two centuries of British rule.

The freedom struggle involved the sacrifices of millions of Indians. Several prominent leaders and freedom fighters played important roles in the movement.

Mahatma Gandhi, Jawaharlal Nehru, Sardar Vallabhbhai Patel, Netaji Subhas Chandra Bose and Bhagat Singh are among the prominent figures associated with India’s freedom struggle.

As the nation celebrates Independence Day, Google’s special Doodle adds a colourful digital tribute to India’s history, culture and national spirit.

Tech

UPI Transactions May See Charges in Future, Says RBI Governor

Published

2 weeks ago

August 5, 2026

Namma Kudla

Tech: RBI Governor Sanjay Malhotra said it is too early to decide on charges for UPI transactions.

He said running the UPI system involves costs, and someone has to bear those expenses.

His statement comes as the government considers changes to the Payment and Settlement Systems Act.

Reports suggest a Merchant Discount Rate (MDR) may be introduced on some UPI payments.The proposed MDR could be 0.3% to 0.5% on transactions above Rs.2,000.

The fee is likely to apply only to large merchants with high business turnover. Small shopkeepers and person-to-person UPI transfers are expected to remain free.

The proposed charge would be paid by merchants, not by customers.The RBI Governor said the government is still reviewing the proposal.

He added that more clarity will come after the government’s decision.

Tech

RBI to Test Plastic Rs.10 and Rs.20 Notes across India

Published

3 weeks ago

July 29, 2026

Namma Kudla

New Delhi: The Central Government has approved the Reserve Bank of India’s proposal to conduct field trials of polymer, or plastic, banknotes in Rs.10 and Rs.20 denominations.

The RBI will issue 100 crore Rs.10 notes and 100 crore Rs.20 notes as part of the pilot project.

The trial will include a total of 200 crore polymer notes with an estimated value of around Rs. 3,000 crore. The government has clarified that paper currency will not be replaced.

The new polymer notes will be circulated along with the existing paper notes during the trial. The RBI will study the durability and performance of the plastic notes before taking any further decision.

Polymer notes are known to last longer and are more resistant to wear and tear than paper notes.

Many countries, including Australia, the United Kingdom, and Canada, already use polymer banknotes.

The RBI said both cash and digital payments will continue to work together as convenient payment options for the public.