Fri, Jun 27, 2025 | 01:53 PM IST
A 26-year-old ICICI Bank relationship manager in Kota, Rajasthan, was arrested for stealing Rs 4.58 crore from customers, including senior citizens between 2020 and 2023. This issue came to light as the bank reported the matter to police. The RM used the funds for speculative stock market trading in future and options (F&O). As per bank, after it came to know about the fraud it has refunded money to all depositors. Read below to know more.
The Kerala High Court held Bank of Baroda liable for fraudulent encashment of forged cheques, ordering a full refund with 6% interest to affected customers. The court emphasized banks' responsibility to verify signatures and rejected arguments shifting blame to customers or questioning vigilance reports. This ruling reinforces consumer protection against bank negligence in cheque clearing. Read below to know more.
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