The Allahabad high court denied bail to four persons accused of deceitfully withdrawing money from the bank account of a retired high court judge, holding that those who deposit money in banks are honest and it is the responsibility of the banks to keep their money safe at any cost.
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Justice Shekhar Kumar Yadav proposed that “The bank has to take responsibility for such cases wherein the money of their customers is withdrawn by cyber criminals as such customers are more honest towards the country since they put their white money in banks”.
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The court stated that, “Bank account holders' money should be safe. Not only because the customer deposits money in the bank so that he/she can withdraw it when needed, but also because the money deposited by the customers in the bank is white and due to which, the economic condition of the country also improves. On the other hand, there are people in the country who do not deposit crores of rupees in the bank and keep it hidden in the basements of their houses. The banks do not get any benefit from it, and they also hollow out the economic condition of the country. In such a situation, that customer of the bank is more honest towards the country and his money should be kept safe by the bank at all costs and if in any way the money is withdrawn by cybercriminals, then for this, the bank has to take responsibility for it.”
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The court was dealing with the bail plea of Neeraj Mandal aka Rakesh and three others in connection with a case, in which money was deceitfully withdrawn from the bank account of a retired high court Judge of Allahabad high court. An FIR was registered by her at police station Cant, Prayagraj in December 2020.
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The Court had also sought the response of the Union, State & Reserve Bank of India on the question as to how to make Banks & Police accountable in online cyber/fraud cases.
