Supreme Court wants banks to compensate digital arrest victims

The Supreme Court on Thursday asked the RBI to require financial institutions to fully compensate digital arrest victims when the fraud results from lapses in their due diligence. Noting over ₹800 crore lost to scamsters posing as law enforcement, CJI Surya Kant expressed shock that educated people still fall for such calls. The court will examine the RBI's proposed KYC amendment directions meant to curb cyber fraud.