How Axis Bank customers exploited reward points loophole

A loophole in the Axis Bank's reward points allotment system led to a situation where multiple customers were able to get reward points they did not earn, Livemint reported. Axis Bank has fixed the error that allowed customers to earn reward points for refunded payments. For existing customers, Axis Bank has simply begun deducting points from concerned customers' Edge Rewards accounts. "Due to a technical issue, EDGE REWARD Points from cancelled/reversed/EMI transactions on your Axis Bank credit card between April ’23 and Jan ’24 were not reversed.