2024-08-06 13:37:41
New Delhi: Banks are bearing the brunt of the frauds happening with people. In the financial year 2023-24, public sector banks have had to pay crores of rupees as compensation to the customers. This amount was siphoned off from the customer’s account by fraudsters. This amount is many times more than the last financial year 2022-23. This information was given by Finance Minister Nirmala Sitharaman in Parliament on Tuesday. Let us tell you that if someone withdraws money by cheating a bank customer, then the bank has to return that amount to the customer as compensation. However, there are many conditions in this. The main condition is that the customer should inform the bank within 7 days of the fraud. Finance Minister Nirmala Sitharaman told in a written reply in the Rajya Sabha on Tuesday that PSU banks had to pay Rs 140 crore as compensation in the year 2023-24. This was the amount that the fraudsters had siphoned off from the bank accounts of the customers by fraud. The Finance Minister said that this amount was Rs 42.70 crore in the last financial year. In such a situation, this year it has increased more than three times. He said that during the financial year 2023-24, Union Bank of India gave the highest compensation of Rs 74.96 crore. After that Bank of India gave compensation of Rs 20.38 crore and Indian Bank gave compensation of Rs 16.16 crore.
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Union Bank had paid more compensation last year too
In the last financial year too, Union Bank of India had paid a large amount as compensation. It was Rs 12.18 crore. After this, Central Bank of India had paid a compensation of Rs 11.68 crore. Sitharaman said that in July 2017, the Reserve Bank had given instructions to limit the liability of customers in cases of unauthorized electronic banking transactions. According to these instructions, if the unauthorized transaction is due to the negligence or deficiency of the bank, then the customer has no responsibility in this.
Rules relating to compensation
- The Finance Minister said that if any unauthorised transaction takes place in which neither the bank nor the customer is at fault but the system is at fault, then in such a case the customer will not be responsible at all.
- In such cases, the customer has to inform the bank within three working days (excluding holidays).
- Even if a customer is cheated and he informs the bank about it within 4 to 7 working days, the customer will not be responsible for it.
- However, if in such cases the time exceeds 7 days, then it will be settled as per the policy approved by the bank board.
- In cases where the loss is due to the negligence of the customer, the customer has to bear the entire loss unless he reports the unauthorised transaction to the bank. Any loss incurred after reporting the unauthorised transaction is borne by the bank, the Finance Minister said.