Banks are scary , especially when they go wrong.
The associate costs of any consumer issue that arises with respect to banks and banking transactions are mind-numbingly high in most cases.
This automatically implies that consumers stuck in consumer disputes with banks are the worst of a lot that is otherwise hardly enviable.
The latest in the series of bank troubles that actually saw the light of resolution, courtesy our ever generous consumer forums are two separate incidents reported from Punjab and New Delhi.
In the first incident, a consumer in Hoshiarpur, Punjab had filed a complaint regarding withdrawal of over 32K from his account through 5 unauthorized ATM transactions with his bank SBI which promptly blocked his card. However, despite the card being blocked, further money was withdrawn in two separate ATM transactions amounting to a total of over Rs. 24,000.
We had already stated earlier that if your ATM card is blocked and despite it being blocked, money is withdrawn from your account, your bank will be liable for the loss. See 4 Things You Must Know About Your ATM Card.
This stance was further reiterated by the Punjab State Consumer Forum in this case which ordered State Bank of India to pay Rs 24,056 as compensation to one of its account holders at Hoshiarpur in Punjab, for lapses to prevent unauthorized transactions through his ATM card.
Consumer forum directs SBI to pay Rs 24,056 as compensation to account holder in Hoshiarpur (Contify)
In a separate incident, a consumer from New Delhi, holder of three Citibank credit cards, accused the bank officials of “illegally” leaking and “supplying copies” of his credit card statement to a third party. Mittal, the aggrieved consumer claimed that this confidential information, between November 2003 and January 2009, was produced during a private dispute pending with an unnamed party, and asked for a compensation of 30 lakh.
Upholding the complaint, the Delhi State Consumer Dispute Redressal Forum has asked the branch manager of a bank to pay Rs 15 lakh as compensation for divulging confidential information of an account holder.
Citibank Asked Pay 15 Lakh By A Consumer Forum (Times of India)