
Elderly man loses Rs 2 lakh in online fraud, SBI told to refund full amount
The 70-year-old had reported the incident within three hours, but the bank failed to reverse the full amount.
The incident occurred on July 19, 2022, when the victim, a retired scientist and resident of Mayflower Gardens, unknowingly interacted with an unauthorised online link, following which almost Rs 2 lakh was fraudulently debited from his SBI account. An additional Rs 25,000 was also withdrawn but was later reversed by the bank.
Realising the fraud, Mukherjee (name changed) contacted the bank's customer care via phone and email within three hours of the incident, urging them to reverse the entire amount. Despite several emails, letters, and follow-ups, SBI only refunded Rs 25,000, leaving the bulk of the amount unrecovered.
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Alleging deficiency in service, Mukherjee filed a complaint before the II additional district consumer disputes redressal commission, Shantinagar.
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by Taboola
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However, the district commission dismissed the complaint on Aug 14, 2023, stating there was no deficiency in service by the bank and the Reserve Bank's zero-liability clause didn't apply in his case.
In its defence, SBI contended that the fraudulent transaction was due to the complainant's negligence. The bank argued that the elderly man had interacted with an unauthorised link, which compromised his account security, and thus, it couldn't be held responsible for the fraudulent transaction.
SBI also maintained that it had acted promptly by reversing Rs 25,000 as a goodwill gesture, but was under no obligation to refund the remaining Rs 2 lakh. The bank claimed the zero-liability clause wasn't applicable here as there was contributory negligence on the part of the account holder.
The district consumer forum agreed, stressing that the onus of ensuring secure transactions rests with the account holder. Highlighting that banks are only expected to refund such amounts when customers report fraud promptly and follow due diligence, the forum ruled that the complainant hadn't satisfied these conditions.
Unhappy with the order, Mukherjee filed a complaint with the state commission on Oct 13, 2023, citing deficiency in service. After reviewing all the documents and hearing both parties, the commission observed that the elderly man had reported the fraudulent transaction within three hours, which falls well within RBI's zero-liability guidelines that protect customers who promptly report such incidents. The commission also noted that the district forum had failed to appreciate the key documents and RBI guidelines.
"The bank ought to have reversed the entire amount after being informed within hours of the incident. The district commission failed to appreciate the timelines and the evidence," the commission stated.
On May 26, 2025, the state commission directed SBI to refund the entire amount (close to Rs 2 lakh) within 60 days, aside from paying the complainant Rs 25,000 towards compensation and litigation costs.

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