The Bombay High Court has ordered HDFC Bank to refund ₹38 lakh (approximately $46,000 USD) to Subodh Korde, a businessman from Pune, Maharashtra, who lost the amount in a digital fraud incident. The court found that Korde was not responsible for the unauthorized transactions that occurred on July 15, 2021, which involved the addition of three unknown beneficiaries to his account and a sudden increase in his transaction limit from ₹4 lakh to ₹40 lakh (about $4,800 to $48,000 USD) a day earlier. Korde claimed he did not authorize these transactions and did not receive any One-Time Passwords (OTPs). The bank argued it had sent OTPs and notifications, but a police investigation revealed that Korde's SIM card had been fraudulently swapped multiple times, preventing him from receiving these messages. The court emphasized that under the Reserve Bank of India's guidelines, the bank must prove customer negligence, which it failed to do. As a result, the court directed the bank to refund the amount within eight weeks, with an interest rate of 6%, increasing to 8% for any delays.