The Supreme Court on Monday said digital frauds siphoning off over ₹52,000 crore from bank accounts was “robbery and dacoity” and asked the Centre to draw up draft rules in consultation with the Reserve Bank, other banks and the telecom department to deal with such cases. The court also asked the government to consider ways of compensating victims of digital fraud. The report said that a high-powered, inter-departmental committee had been formed to tackle cyber frauds and underlined the Reserve Bank’s SOP on putting a debit hold on targeted accounts. The bench asked the Centre to “formally adopt and implement” the Reserve Bank’s SOP “across India for inter-agency coordination, location of defrauded parties”. It is due to the collusion or negligence on the part of some bank officers… banks are becoming a liability...”

Source: The Telegraph February 10, 2026 06:12 UTC