Man loses Rs 1.64 lakh in online ‘fraud’, bank ordered to refund amount, pay Rs 25,000

4 min readNew DelhiJul 31, 2026 06:05 PM IST The complainant had alleged that Rs 1.64 lakh was unauthorisedly transferred from his savings account. (Image generated using AI)A consumer commission in Punjab has directed the State Bank of India to refund Rs 1.64 lakh to a customer who lost money in an unauthorised online banking transaction, observing that not resolving the matter despite repeated requests amounts to deficiency in service. President Charanjit Singh and members Nidhi Verma and V P S Saini noted that the bank failed to prove negligence on the part of the complainant and had illegally rejected his genuine claim.“The present complaint is allowed and the opposite parties are directed to refund Rs. 1,64,000 to the complainant . The complainant has been harassed by the opposite par