Retired Banker's Quest for Justice: India's Largest Digital Fraud Case

Naresh Malhotra, a 78-year-old retired banker, is at the center of what is described as Delhi's largest digital fraud case. He lost nearly Rs 23 crore due to what he claims is institutional negligence on the part of several banks.

Despite an RBI ombudsman's order for five banks to collectively pay him Rs 1.31 crore, Malhotra is determined to recover the full amount. He insists that the banks failed to comply with the RBI's KYC and AML norms, thereby making them fully responsible for enabling the fraud.

Malhotra has filed an appeal with the RBI's senior officials and has a pending criminal writ petition scheduled for May in the Supreme Court. He vows to continue his fight for full restitution, arguing that the compliance of banks should be 100 percent.

(With inputs from agencies.)