The Calcutta High Court has set aside orders passed by the RBI Ombudsman and Axis Bank, directing the bank to refund amounts lost by a customer through unauthorized transactions. The Court held that under the Reserve Bank of India’s (RBI) circular on customer protection, the burden of proving customer liability in cases of unauthorized electronic
Banks Cannot Assume Customer Negligence Without Evidence: Calcutta High Court Directs Bank to Refund Fraudulent Transactions
