Legal Question in Banking Law in India

I am using this HSBC card very rarely.

I got a sms from HSBC on 12th June about the monthly billing amount, in which, I got the information that the amount was Rs. 23381/- approximately., But then I realised that I had used that card for only one transaction of Rs. 11,999/- so I searched the card, but I didn't find the card anywhere, so I called HSBC helpline and got the details of remaining amount transactions, which were not done by me. so I reported the Loss of card and immediately blocked the card transactions, and reported FIR on 15th of June.

Then to raise a dispute of these fraudulent transactions, I sent the dispute letter to HSBC at [email protected] for these fraudulent transactions, and they replied me and asked me to fill up the dispute form and sent it to them alongwith the scanned FIR copy. so i sent all the required documents through e-mail on 19th June

After doing all this, in 5 days they replied that they have investigated the issue and as the transactions were done before reporting a loss of card., cardholder is liable to settle the amount,

I was not satisfied with their reply so I reported the issue to nodal officer of HSBC, but he/she also replied the same. so I took up this issue with Mr. Ganeesh Bharadwaj, country head, Personal Finance Department, HSBC, but he also replied in the same lines.

In every letter I asked them about the matching the signature on the chargeslips, but they always mentioned in their reply, that

ALL THE SETTLEMENTS WITH MERCHANT BANKER ARE DONE ELECTRONICALLY AND THERE IS NO MANNUAL INTERVENTION.

Please let me know., whether the authorisation and settelement of the transaction without matching the signature of the card holder is lawfull? If so, which is the RBI rule or notification allows them to debit the amount without signature matching?

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