Bank fraud: High Court orders Bank of Baroda to return money to customers with 6% interest

The Kerala High Court held Bank of Baroda liable for fraudulent encashment of forged cheques, ordering a full refund with 6% interest to affected customers. The court emphasized banks' responsibility to verify signatures and rejected arguments shifting blame to customers or questioning vigilance reports. This ruling reinforces consumer protection against bank negligence in cheque clearing. Read below to know more.