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Bank fines man over minimum balance without notice, now to pay Rs 15,000
(AI-generated image)A district consumer forum in Kerala has directed South Indian Bank (SIB) to refund penalty charges and pay Rs 15,000 as compensation and litigation costs to a customer for deducting charges for non-maintenance of minimum balance without prior notice. A bench of president Krishnan K and member Beena K G of the District Consumer Disputes Redressal Commission, Kasaragod, treated the deductions as a deficiency in service and unfair trade practice, as the bank was not able to prove customer consent or proper disclosure.“Since bank is not able to prove customer consent or proper disclosure, deductions are treated as deficiency in service and unfair,” the order dated June 5 read.
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