Skip to main content

ICICI ordered to reverse Rs 7,80,829 transaction & pay compensation

ICICI Bank, an Indian multinational banking and financial services company has been penalised and asked to reverse the transaction of Rs  7,80,829 to customer’s account. The order was given on the grounds of a customer’s complaint of unauthorised transaction.
The district consumer disputes redressal forum Indore-2 directed the bank to reverse the amount into Vijay Nagar, Indore’s resident Anurag Gupta’s account and pay another Rs 10,000 as credit to him.
Gupta, 30, son of Pramod Gupta, was issued a credit card, which he had been using “very cautiously with due care”. The credit card limit was set at Rs 1,00,000.
To have an expenditure cushion, plaintiff took the credit card to South Africa (SA) on a family vacation with his wife from Feb 14, 2018 to Feb 26, 2018. After reaching SA, the couple rented a car from Europcar Imperial.
The car’s was insured and hence, had a cover of safety in case of accident. On Feb 18, 2018, the car had an accident. The plaintiff lodged in a complaint about the accident in Oudtshoorn, SA.
Further, plaintiff informed the booking company about the accident as well. The booking company offered another car and asked plaintiff to deposit South African rand (ZAR) 20,000 (Rs 1,11,333).
Since plaintiff had credit card limit of Rs 1,00,000 only, he asked a relative to help. The relative deposited Rs 1,00,000 to his account.
Plaintiff took out Rs 1,35,801 from the account. Out of this, Rs 1,00,000 were transferred from relative and Rs 35,801 were taken from credit card account. Rs 35,801 were taken out for deposit of the new car and other expenses.
After returning from the vacation, the plaintiff was shocked when he received the monthly statement on March 15, 2018. The statement showed expenditure of Rs 8,41,307 towards europear SA Gauteng AZ.
The transfer was, “without his knowledge and acceptance”, showing expenditure showing transfer of excess Rs 7,80,829 was done from his credit card.
Plaintiff immediately reported the matter and registered a service request with the bank’s customer care.
‘Followed norms, to no avail’
Plaintiff submitted before the consumer forum that according to settled banking laws, even as he timely informed the respondents about the unauthentic transaction, they did not pay any heed Hence, a complaint was filed before the consumer forum.
However, after listening to the arguments, the forum directed the company to pay the requisite amount to the complainant. Further, instructed the bank to pay compensation (Rs 10k) and cost (Rs 2k) within one month.
The defended would be charged 9 percent interest per annum after a month. 

Comments

Post a Comment

Popular posts from this blog

Jharneshwar Mahadev in Madhya Pradesh: a nature escape from urban jungle

Life is too short, unpredictable and an adventure if lived to the fullest. Learning the essential value of life and deciding to seek adventures in life, several groups are now connecting to nature and seeking spiritual growth. Leading a group of adventure seekers to less-known wonders of Indore, Gyandeep Srivastava, administrator of Rides of Riders group unravelled a new getaway. The group went on a long ride exploring the rural areas of the city. In their bid to seek adventure, the group came across an ancient temple ‘Jharneshwar Mahadev’ which dazzles visitors with nature, beauty and wonder. The temple is situated in Shajapur, about 230 kilometres from Indore. The waterfall of Bhadooh (Jharneshwar Mahadev), a famous tourist place falling under the Quartak Panchayat, about 30 km from Manasa in Neemuch district. After monsoons, the waterfall attracts tourists from all over state to witness the 100 feet high waterfall. There were 25 riders in the adventure trip including female rider I...
Post a Comment
Read more

Before Pentecost, Christian community helps underprivileged families with ration

Prior to Pentecost, Christian community is following the lessons taught by Jesus Christ and helping those in need. In their drive to help underprivileged families, Christian volunteers forming a group are providing ration packets to them. Christian holiday of Pentecost, which is celebrated the 49th day (the seventh Sunday) after Easter Sunday, will be celebrated on May 31 this year. The holiday commemorates the descent of the Holy Spirit upon the Apostles and other followers of Jesus Christ. Under the drive, ration packets are given to 200 to 250 people on a regular basis. “Christ was the ultimate social worker. Not only could he find housing for people, or give them free food,” Ashutosh Joseph, a volunteer said. He cited that in the Bible, God's call to His followers to care for other human beings is clear (Philippians 2:4; 1 John 3:17-18; Proverbs 19:17 New International Version). “In fact, Jesus states that one of the most important commandments is ‘love your neighbour...
Read more

What are the precautions for prevention of corona virus? Special instructions for School Students

School Education Department issued an advisory to all the school heads and officers regarding precautions to be taken against the deadly novel coronavirus to prevent the spread of infection among school children. The advisory was sent out at the direction of Ministry of Health and Family Welfare, Government of India with a photocopy of the letter attached. The department in its advisory stated that the world is fighting against the rapid spread of coronavirus (COVID-19). In India, too, the number of cases identified has increased in the last few days. As the school going children are also susceptible to infection and this is a crucial time for children given the end of the academic year and examination, it calls for immediate measures minimizing the effects of the epidemic. In the advisory, the department advised the schools to avoid any large gatherings of students during the course of the day in school. Any student or staff with travel history to any COVID-19 affected countr...
Post a Comment
Read more