A way to foil cybercrime? Call it in and you could get the money back
The police are working closely with the Reserve Bank of India, which has even developed a standard operating procedure for banks on how to respond to cybercrime alerts. The RBI has told both state-run and private banks that their support is critical to make the initiative a success.
Banks close lakhs of current accounts, clients open grievance accounts“As per RBI instructions, we advise that while you may continue maintaining your cash credit/overdraft account with the branch, your current account will have to be closed as the same can no longer be maintained while availing CC/OD facility,” one such letter sent by State Bank of India to a customer read.
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