Fraudulent Online Transactions: Liabilty Of Banks!! - Finance and Banking
To print this article, all you need is to be registered or login on Mondaq.com. On 21st December, 2020 in National consumer Disputes Redressal Commission (NCDRC), the Hon'ble Presiding Member, Mr. C Viswanath dismissed the Revision Petition 1 filed under Section 21 (b) of the Consumer Protection Act, 1986 by HDFC Bank and held that the bank will be liable to pay to its customers in case of unauthorized transactions. Thus, the banks must compensate to its account holders in case of fraudulent transactions in the absence of any evidence to substantiate its stand that the...
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