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online fraud: Private bank fined Rs 5 lakh by consumer panel for disbursing online loan without signature

A private bank in Uttar Pradesh has been fined Rs 5.2 lakh by the State Consumer Disputes Redressal Commission for disbursing a personal loan of Rs 7 lakh to a victim of online fraud. The customer had complained, but the bank continued to debit instalments from her account. The bank was also required to pay a further Rs 25,000 for harassing the woman.

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