Tripura consumer court pulls up SBI for delay in responding to OTP fraud complaint

The Tripura Consumer Disputes Redressal Commission rebuked SBI for delaying the response to an OTP fraud complaint, instructing it to compensate the victim and pay a fine for negligence. The case involved a complainant whose account was debited due to fraudulent transactions after disclosing OTP details over the phone, despite not being at fault. The commission emphasized banks' duty to promptly address such complaints and safeguard customers against cyber frauds. This ruling underscores the importance of stringent consumer protection measures and swift redressal of financial fraud complaints by banking institutions.