Tech
Supreme Court Orders SBI to Refund Rs 94,000 to Cyber Fraud Victim
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.
Tech : Recent discussions on social media have raised concerns about the “Pocket Money” option on Google Pay. Some users claimed that clicking this option could lead to money being lost or that it might be a scam. However, these claims are misleading. The feature is safe and designed for a specific purpose.
What is the ‘Pocket Money’ Feature?
The “Pocket Money” feature is introduced under the UPI Circle framework. It is designed to help parents manage and control digital spending for their children or dependents.
With this feature, children do not need their own bank account. Parents can allow them to make digital payments using the parent’s bank account. However, full control remains with the parent.
Is It a Scam?
No, the feature is not a scam. It is an official feature by Google Pay. It does not transfer money automatically when clicked. Money is only transferred when a payment is approved or made within the set rules.
Google Pay follows strict security measures. It is not possible for such a large platform to allow unsafe features.
How Does It Work?
Parents can add up to five members as secondary users. They can also set a monthly spending limit of up to ₹15,000.
There are two payment modes:
Full Delegation: Children can make payments within the set limit without approval each time.
Approval Mode: Every payment request must be approved by the parent before money is sent.
Safety and Control
Parents receive notifications for transactions. They can track where and how money is spent. KYC verification is required to ensure safety and authenticity.
Benefits of the Feature
Helps children learn digital payments
Gives parents full control over spending
No need for a separate bank account for children
Useful for small expenses like school canteens or shopping
READ MORE :Pregnant Woman Assaulted, Twin Babies Die in Haveri
The “Pocket Money” feature on Google Pay is a useful and secure tool. It is not a scam. It is designed to make digital payments easier for families while keeping full control with parents.
Tech: In a major boost to agri-tech, Vivek Raj, CEO of Panama Hydro-X, is investing ₹214 crore in AI-enabled hydroponic farming in Karnataka to cultivate high-value spices and medicinal plants.
The company has spent ₹146 crore on research and secured four AI patents in the United Kingdom, Germany, and Australia.
A 16-acre facility is being set up in Moodbidri and is expected to be ready by 2026, with the first harvest planned for June 2027. Trials showed ginger yields three times higher than traditional farming and enabled three crop cycles annually.
The company will also hire 37 engineers in Mangalore to support expansion.
READ MORE:A Man sexually assaulting his girlfriend after Murder
Raj turned to agricultural technology after losing his 5,000-acre ginger crop during a drought in Chikkamagaluru, transforming the setback into an innovation-led farming venture.
Tech: Galgotias University was asked to vacate the expo area at the India AI Impact Summit in New Delhi after a controversy over a robotic dog.
A viral video showed university representatives claiming that the robot, named “Orion,” was developed at their Centre of Excellence. Social media users later identified the machine as the Unitree Go2 made by Chinese robotics company Unitree.
The university said the robot was only purchased as a learning tool for students and denied building it. However, clips showed staff members stating that the device was created by their team.
READ MORE :Biker Arrested For Shooting Dangerous Reels in New Delhi
The university also called the criticism a propaganda campaign in a post on X. The post received a Community Note saying the claim was misleading.
A communications professor later said the robot was brought only for demonstration and that there may have been a misunderstanding.
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