Delhi HC orders bank to pay ₹1 lakh for credit card fraud, agent harassment

• Delhi High Court ordered a bank to pay ₹1 lakh compensation to a customer for harassment by its credit card recovery agent.
• The customer was harassed to pay for ₹76,777 in fraudulent credit card transactions he had reported.
• The court also directed the bank to reverse the fraudulent transaction amount.
• The ruling criticized the RBI's ombudsman system and instructed RBI and banks to strengthen their grievance redressal mechanisms.
• This decision emphasizes customer rights and warns banks against harassment or intimidation by recovery agents.

Why It Matters: Delhi High Court protects customers from bank harassment and fraud, strengthening rights.