Digital Arrest Scams: SC Directs RBI To Create Bank SOPs, Pushes For Victim Compensation Framework

Amid growing instances of digital scams, the Supreme Court (SC) has directed the Reserve Bank of India (RBI) to strengthen measures against the growing threat by introducing a standard operating procedure (SOP) for banks within four weeks to deal with cyber fraud-linked accounts. The SOP will include a grievance redressal system, a mechanism to restore recovered money and introduce more public awareness measures, the court said, as per a report by Live Law. A bench of CJI Surya Kant, Justice Joy