June 29th 2023.
Indore recently saw a landmark decision by the consumer court when it directed a private bank to pay Rs 50,000 as compensation along with Rs 35,984 and interest to a victim of credit card fraud.
This landmark decision was made because the bank had not cancelled the credit card even though Akash Dubey had given a written application requesting the same. On February 22, 2019, Dubey had visited the bank to cancel his credit card and was advised by the bank official that there was no need to cancel it, as it would get cancelled automatically if he did not use it for a year.
Believing the bank official, Dubey discontinued the use of the mobile number registered with the credit card and never bothered to check the credit card again. However, he was shocked to receive an email on December 6, 2019, that Rs 35,984 had been deducted from his account on November 27, 2017.
Dubey immediately approached the bank to enquire and was assured that they would investigate the matter and revert within 45 days. Unfortunately, the bank did not get back to him. Dubey reapplied for an investigation on January 29, 2020, and in response the bank claimed that the transaction was OTP protected and money could not be deducted from the account until the OTP was shared.
After investigation, the consumer court concluded that the complainant did not have access to the registered mobile number and it was the bank’s responsibility to share the transaction details within 3 days. It further stated that the customer’s appeal to cancel the card was rejected by the bank and no proper investigation was held. The court found the bank guilty and ordered them to pay Rs 35984 with 8 per cent yearly interest along with Rs 50,000 as compensation within one month of judgment.
[This article has been trending online recently and has been generated with AI. Your feed is customized.]
