SBI Ordered to Refund ₹99,940 in UPI Fraud Case After Five-Year Legal Battle
What Happened
The Chandigarh State Consumer Disputes Redressal Commission dismissed SBI's appeal on October 21, 2026, upholding a refund of ₹99,940 lost through five unauthorised UPI transactions in July 2021. The bank must pay 9% annual interest from July 21, 2021, plus ₹10,000 in compensation and litigation costs. The estimated total exceeds ₹1.5 lakh.
Key Takeaways
The ruling reinforces that banks must provide evidence before holding customers responsible for unauthorised transactions. Promptly reporting suspected fraud and retaining complaint records can help customers establish their case.