“As per the Apex Court, such acts (frauds) of Employee Software, when done during their course of employment, are binding on the bank and will give customers a right to legally proceed against the bank for loss or damage. In most cases, it would be the only effective remedy available to the customers. However, the bank’s liability may be limited Employee Software in cases where the customer has shared his password, PIN, OTP, etc., with the bank employee,” says Suma R V, Partner, King Stubb & Kasiva, Advocates and Attorneys.

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