Supreme Court tells banks to refund digital scam victims
India
The Supreme Court has told banks they must pay back customers who lose money to digital scams.
Chief Justice Surya Kant called banks a "protective umbrella" and said they need to act fast, especially if someone suddenly withdraws a large amount: think retirees or anyone who might be more vulnerable.
The message is clear: banks need to step up their game in keeping your money safe online.
Banks must prevent unusually large withdrawals
Banks aren't just supposed to warn you about sketchy transactions, they should actually stop them before they happen.
The court wants preventive measures to be in place for unusually large withdrawals.
The Supreme Court's move is all about making sure financial institutions are looking out for their users, not just reacting after the fact.