Suryaa National Desk: Surya Legal & Banking Desk, Chandigarh: Punjab State Consumer Disputes in case of unauthorized UPI transactions without customer involvement... Surya Legal & Banking Desk, Chandigarh: The Punjab State Consumer Disputes Redressal Commission has issued a landmark judgment in the case of unauthorized UPI transactions without the involvement of the customer. The victim, including the amount lost from the account, will have to pay Rs. 82,495 (excluding interest) was upheld by the Commission in its previous order directing the bank to pay Rs.
11 Unauthorized Transactions in 2019: On June 4 and 5, 2019, 11 unauthorized UPI transactions were made from the victim's savings account respectively. Through these a total of Rs. 72,495 was debited from the account. Although the customer complained that he did not do any transactions and did not share the OTP or UPI PIN with anyone, the victim approached the consumer forum as the bank administration acted negligently.
The Commission rejected the bank's argument: The bank argued before the Commission that all these transactions were verified through the customer's official UPI PIN or M-PIN (MPIN) and there was no service error. However, the Consumer Commission rejected the bank's claims, clarifying that the bank had failed to detect and block suspicious transactions and provide proper security to the customer's digital money. It has been clarified that full justice should be given to the victim on the deficiency of banking services.
