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Court criticizes banks for quick fraud labeling, advises Ambani to complain to RBI.
The Bombay High Court criticized banks for hastily labeling accounts as "fraud" or "defaulter" without proper evaluation, calling out the "cut, copy, paste" approach.
The court advised industrialist Anil Ambani to file a complaint with the Reserve Bank of India (RBI) against Union Bank of India's fraud declaration on his account.
The court emphasized banks must follow RBI guidelines and urged the RBI to implement stricter checks.
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La Corte critica a los bancos por etiquetar rápidamente el fraude, aconseja a Ambani que se queje ante RBI.