Tuesday, October 4, 2022

If you are a victim of online fraud, you will receive your money in 10 days and will be required to complete this job

The Reserve Bank recently imposed a penalty on two large banks, putting the interests of customers first. SBI has been fined Rs 1 crore, while Standard Chartered Bank has been fined Rs 1.95 crore by the Reserve Bank.

There’s no need to be alarmed if you’re a victim of online shopping scam. By filing a complaint with the bank, you can get your money back within ten days. If your bank does not respond to your complaint within a reasonable amount of time, you can file a complaint with the Reserve Bank’s CMS (Complaint Management System) online. However, if the bank does not resolve the customer’s complaint, the Reserve Bank has the authority to levy a penalty.

Two banks have been fined by the RBI.

The Reserve Bank recently imposed a penalty on two large banks, putting the interests of customers first. SBI has been fined Rs 1 crore, while Standard Chartered Bank has been fined Rs 1.95 crore by the Reserve Bank. SBI broke the norms for fraud classification and reporting of frauds with consumers on behalf of commercial banks and designated financial institutions, according to the RBI.

Banks were the ones who were negligent.

The repayment of the unlawful transaction money was delayed by Standard Chartered Bank. As a result, the Reserve Bank levied a penalty of Rs 1.95 crore, while SBI delayed reporting the fraud in the customer account, resulting in a penalty of Rs 1 crore.

Read More: Tata Punch launch: Price Rs 5.49 lakh, with amazing Mileage

The Reserve Bank has sent a strong message to banks and financial organizations that failure to address customer complaints and late settlement will result in penalties. As a result, those who engage in banking transactions should be informed of their rights.

Customers must use caution.

Customers must be vigilant when purchasing or transacting online in order to prevent becoming victims of a scam. When doing online purchasing, make sure the computer or mobile device you’re using has antivirus software installed. It’s also critical to keep your software up to current at all times. Apart from that, you should never save your banking password on your computer.

There has been a considerable surge in reports of cybercrime, such as internet fraud, during the shutdown. According to a survey, identity thieves have targeted more than 27 million people in the last year alone.

RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

spot_img
spot_img

Most Popular

spot_img

Latest

Vistara Airlines Live TV Service: Vistara passengers will be able to watch World Cup matches during the flight, live streaming starts in the airline

Vistara On Board Live TV: If you travel by Vistara Airlines, then you will be happy to hear this news. Passengers will now be...

Six significant changes took effect on October 1st: cheaper cylinders, tokenization technology adopted for card payments, higher interest rates on small savings plans.

October 1st brought about a lot of changes. Income taxpayers will be unable to participate in the Atal Pension Scheme. In addition, a tokenization...

Card tokenization regulations that go into effect from October 1st prohibit businesses from saving credit and debit card information and require them, understand...

Beginning on October 1st, new rules will apply to cardholders who use debit and credit cards. The Reserve Bank of India's (RBI) Card-on-File Tokenization...

Digital Life Certificate: Pensioners get exemption on submission of life certificate, know new update, follow these steps

Deadline for submission of life certificate: If you take advantage of any pension scheme from the central government, then this news can prove to...

Toyota Cars Price Hiked: Toyota has increased the prices of these vehicles, now will have to spend 77 thousand rupees more

Toyota Fortuner, Innova Price: Toyota's SUV has a stronghold in the Indian market. Among these, Innova Crysta and Fortuner have a lot of sales....

Most Popular

Subscribe

* indicates required