Big decision by court - Banks liable for unauthorised withdrawals even if customers didn't respond to SMS alerts
The Kerala High Court has said banks cannot be absolved of liability for unauthorised withdrawals from their customers' accounts. Justice P B Suresh Kumar also made it clear that banks are liable for unauthorised withdrawals even if customers did not respond to SMS alerts.
SMS alerts cannot be the basis to determine the liability of a customer, for there would be account holders who may not be in the habit of checking SMS alerts regularly, Kerala High Court said. Image source: Reuters