LawRato

Bank violating RBI Rules can I file the case against them


28-Apr-2023 (In Banking / Finance Law)

So, RBI does not permit any bank to allow a debit card transaction without a 3D secure page where I have to enter my password. It's mandatory. Yet, my bank still allowed an E-commerce transaction with just my Card# and CVV. It's apparently not a Credit Card and must not be used like one. I contacted them and they refused to accept their fault and failed to cooperate with me. If my Debit Card can be used without my password/pin/one time password, the bank is going against the RBI rules and jeopardizing the security of funds I hold with them. Do I have a case here I can sue them for?

Answers (2)

Answer #1
842 votes
I would advise you to locate the RBI guidelines which makes it mandatory for Banks to use a 3D secure page to make online payments/ transfers. Once you locate the guidelines, check if it's mandatory or merely advisory. If it is mandatory and you believe that the Bank is not following the guidelines, then you can start by sending a legal notice to the Bank before initiating legal action. If it is not mandatory, then the Bank isn't bound by it but as a client, you can write a letter to the top management nonetheless.
Helpful? LawRato13+ LawRato
Answer #2
699 votes
Dear Querist, Yes you can file a consumer case against the bank for deficiency of services, mental agony and compensation. Prior to this, you must give a legal notice and demand the repayment of the money that you lost and ask for compensation, if they are not complying your demand you can file a consumer case. Pratap, Advocate
Helpful? LawRato19+ LawRato
Advocate Pratap Kumar

Adv. Pratap Kumar

LawRato Bangalore / Bengaluru | 5+ Answers
Chat with Advocate Pratap Kumar Chat 

Disclaimer: The above query and its response is NOT a legal opinion in any way whatsoever as this is based on the information shared by the person posting the query at lawrato.com and has been responded by one of the Divorce Lawyers at lawrato.com to address the specific facts and details.

Report abuse?

Connect with top Banking / Finance lawyers for your specific legal issue
Connect with a Lawyer
Comments by Users

No Comments! Be the first one to comment.

"lawrato.com has handpicked some of the best Legal Experts in the country to help you get practical Legal Advice & help."

All Answers

Googling your legal issue online?

The internet is not a lawyer and neither are you.
Talk to a real lawyer about your legal issue.

LawRato