Need Advice: 2.97 Lakh OTP-less, Tokenised Credit Card Fraud - Axis Bank Reversed Temporary Credit & Shows ₹50K Write-Off

[u/OkDifference98]

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Hi everyone,

My father’s Axis Bank credit card was hit by six unauthorised Flipkart / Flipkart PA transactions totaling ₹2,97,685 on July 25, 2026, within approximately 15 minutes.

These were OTP-less, tokenised transactions. We reported the fraud to Axis Bank within 4 days and filed a complaint with the Cyber Crime Portal.

We also escalated the matter to Axis Bank’s Principal Nodal Officer (PNO) and filed a complaint with the RBI Ombudsman.

Current situation:

- Axis Bank initially provided temporary credit but revoked it this month.

- The latest statement shows a ₹50,000 write-off entry.

- The statement has been generated.

- I have emailed the PNO again requesting a chargeback and final resolution.

I need advice on the following:

1. What does the ₹50,000 write-off mean? Does it reduce the outstanding balance, or can the bank still recover it?

2. What should I do about the generated statement and upcoming payment due date?

3. Can Axis Bank revoke temporary credit while the fraud dispute and RBI Ombudsman complaint are pending?

4. Has anyone successfully obtained a full reversal for similar OTP-less, tokenised transactions?

I would really appreciate guidance from anyone who has faced a similar situation with Axis Bank. The disputed amount is substantial, and I want to understand the right steps to take next.

Thank you.

Previous post: https://www.reddit.com/r/CreditCardsIndia/s/JtqkaELbcl

[u/a45ed6cs7s]

Axis bank is full of fraudsters. I suspect one of the employee might have done it.