Even I don't understand that if someone get to know that cancelling order aren't reversing RPs then how come they just go on and on to loot? Axis can be blamed for not having leakproof pipes but even a kelakage of pipe won't let go too much water but here people started using whole water for their fields.
People forget that banks never has to pay anything in their whole life. The money which you and others have gained actually belonged to hardworking people. Just because 2-3% of people are able to get a VIP treatment and using people's money for their own filthy rich life, we can't teach everyone to be like them.
If a bank failed to provide you say Rs.100 worth of rewards to your genuine txn, it gives you right to loot bank for Rs.100. If you revenge it with say Rs.10000 loot from them then you are justifying evil in you. Thinking that bank does the same to crores of people and you get the right to even eat their share is not right at all.
You want to help. Help those people who genuinely have rights to get it by contacting bank.
Here many are using RBI ombudsman loophole to trick bank's into paying huge amt as compensation. They deliberatly wait for a failed txn which don't reverses on time due to technical reason and then pounce on that opportunity to reap unlawful benefits.
Again telling, bank lose nothing. The gain you get will be recovered again from middle class and poor by cutting their benefits in future.
Kisi dusrey person ka nuksaan hamein right nahi deta ki hum uski jagah bank ko trick karey. Kuch employees agar exploit kartey hai toh unki report karo instead ke unke saath milke lootna shuru karo. Till now many such looters employees have been suspended permanently from their jobs because of my anonymous complaints.
I doubt anyone here has taken the "side" of people who exploit loopholes.
If the bank fails to reverse a transaction as per the timeline, it is NOT a loophole if customer goes to RBI and claims compensation. I mean, if I miss paying my bills on time due to internet issues will the bank not charge me an interest and report this to CIBIL? Sure, they can do this once or twice in goodwill but the ball is completely in their court.
I agree that this will eventually be compensated from someone's pocket. It is just another cycle. If you're able to enjoy discounts or attractive rates for any service or product, it always comes at the expense of someone who is sitting at the bottom.
See, I see this as a systemic flaw that allows this to continue. Of course, people who have knowingly exploited such flaws are wrong in their actions. But I don't expect a consumer to individually bear the burden of idealism on their own shoulders when the entire system itself is built for exploitation. In general, the only way to make this right is to fix the system itself & make it justified for everyone.
For this case, Axis needs to claim compensation for their losses from the IT company who provide these services to them. This will come at the expense of those people who are working for that IT company. I may find this immoral but that is exactly how this current system works. And axis should ban those people who have knowingly exploited the loophole. If you tighten the screws of the banking system, people who game it for their selfish gains will sooner or later be figured out. It's not that difficult. But if you are going to selectively blame the consumers and allow the bank walk away, you should blame yourself if your bank fails you in the future.
Honestly, I am not surprised to see so many people unwilling to challenge the system and be happy about breach terms & conditions. Clearly, most of these "wannabe" saints would themselves have exploited the loophole had they known about it. We are a developing country for multiple reasons, this being one of them. I mean, it is always easy to blame the small fish right.
