My SBI credit card was hacked online in June 2014 and purchases worth INR 48, 159.53 were made on it. I informed the SBI customer care and I was assured that matter will be investigated and post investigation, the fraudulent transaction amount would be written back in maximum 120 days if my complaint was found valid. SBI investigated the matter and did not waive off the entire amount. A balance of INR 4914.92 has been left unsettled and now they are refusing to wave it off. Kindly advise as to how can they be made to waive off this remaining amount also.
Reference: The Reserve bank of India has issued guidelines to commercial banks in handling grievances due to wrongful billing and has also set a time limit for preferring their response vide RBI/2015 6/31DBR.No.FSD.BC.18/24.01.009/2015-16 dated 1 July 2015.

You may once again lodge a fresh complaint with the bank providing all the details supported by documentary evidence, and facts of the case.

You should seek explanation from the bank on their action in raising the bill on him. You should seek explanation whether the One Time Password was issued when the transaction took place and how the security verification process was carried out.

The bank is expected to provide the details to the complainant within a period of sixty days with a spirit to amicably redress the grievances.

If a complainant has not received satisfactory response from the bank within a maximum period of thirty (30) days from the date of his lodging the complaint, you have the option to approach the Office of the concerned Banking Ombudsman for redressal of grievance/s. The bank shall be liable to compensate the complainant for the loss of his time, expenses, financial loss as well as for the harassment and mental anguish suffered by you for the fault of the bank and where the grievance has not been redressed in time.
Our Experts

Sucheta Dalal Trustee - Moneylife Foundation

Abhay Datar Abhay Datar is a consumer activist and is also Member of the Managing Committee of Mumbai Grahak Panchayat (MGP). He was Treasurer at MGP for over two and a half years. After working at Bank of Baroda for about 29 years, he retired as IT Manager. After retirement, Mr Datar joined Consumer Guidance Cell of MGP in 2008 and solved many cases related to banking including online fraudulent transactions, misuse of credit cards and ATM cards. Also handled cases related to mobile and mediclaim. Mr Data

Suresh Prabhu Mr Prabhu retired as Senior Vice President from HDFC Bank

R Bhuvaneswari After serving Bank of Baroda for almost 40 years, Ms Bhuvaneshwari retired as Chief Manager in 2013.

Yogesh Sapkale Yogesh Sapkale is Deputy Editor of Moneylife and writes on finance, credit related issues

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