Security threat during online transaction from saving account?

Question

Hi, I was trying to book a ticket on IRCTC.CO.IN today, 4th Jan 2016 through bank saving account. However the transaction was requiring an OTP but I got it very late and by that time the IRCTC session got expired but when I checked my account its showing a successful transaction of Rs. 454.35, for which I did not received any communication from bank though email/sms that I always receive. If I would not have checked my account I must not be aware of this transaction. Whats threatening me is that how the transaction can happen without OPT. Now the customer care is saying that it must be a technical error. Then what is the use of the security parameters, i must have happened in the past as well and could not be aware of it as i can see such transaction only once i login my account. For other successful/failed transaction i receive the mail/sms. I booked three successful tickets though bank post this and later checked my account and it was showing 4 successful transactions. Please do help me out as i am still in shock and not satisfied with the ans from the customer service. in the image you can see today's transaction of 4th Jan 2016 of the amount 454.35 rs.
 

Answer 1

Dear Swaraj,

At the outset, let me clarify that this site is designed by a group of senior Banking Professionals to assist Bank Customers at large to provide guidance for resolution of any complain/query/grievance in respect of financial services. This site does not belong to any Bank or a regulator, which may please be noted.

As regards your complaint, it is not clear if you have attempted the alleged failed transaction through internet banking or credit/debit card. It is unlikely the bank's system could have approved the transactions without OTP. The hypothesis of technical error is apparently erroneous.

Rather than taking the word of the customer service executive, I suggest you to raise your specific concern with Nodal Officer of your bank whose contact details can be found on the bank's website. He can arrange to have a look at the flow of the transaction and determine breach of any parameters during its course. I am sure the NO would give you satisfactory response and alleviate your apprehension about the safety parameters of online banking.

You can revert to us in case you are not satisfied with the response from your bank. You must share the correspondence exchanged between you and the bank in its entirety if you need further guidance.

Regards

 

J R Mohandas