RBI orders ₹1.3-cr relief for 78-yr-old digital arrest scam victim

RBI has ordered Axis Bank, City Union Bank, ICICI Bank, IndusInd Bank and Yes Bank to collectively pay ₹1.31 crore to a 78-year-old victim of a digital arrest scam, Firstpost reported. The compensation was directed over lapses in monitoring mule accounts and KYC norms. The victim has so far recovered ₹1.31 crore under the RBI order and ₹60 lakh earlier.