Is State Bank of India Safe? Supreme Court asks SBI to compensate for customer's loss after security breach

Even a bank like State Bank of India isn't entirely safe for customers! State Bank of India (SBI) has faced a major setback, leaving lakhs of customers worried and anxious

State Bank of India (SBI) has faced a major setback. Lakhs of customers are worried and anxious. A significant data leak in the Supreme Court has raised concerns

The bank has been fined ₹94,000. The reason for the bank's censure is surprising. A person from Assam bought a Louis Philippe blazer in 2021 and wanted to return it

Fraudsters contacted the person, posing as Louis Philippe customer care. They tricked him into installing an app, leading to his bank account being emptied. The victim contacted SBI's helpline and filed a complaint, getting his card and account blocked

He filed complaints with various authorities, including the RBI, Guwahati High Court, and Supreme Court. SBI blamed the customer for negligence and didn't file a cybercrime report or request a chargeback. SBI claimed it wasn't responsible as the fraud occurred via Google Pay, a third-party app

The Assam resident pursued the case through various legal channels. The Guwahati High Court and Supreme Court ruled in his favor, ordering SBI to pay him ₹94,000