ICICI bank to pay Ludhiana man ₹10k for deficiency in service

For wrongfully not allowing a customer to withdraw ₹1.92 lakh from his account, the district consumer disputes redressal commission has directed ICICI bank to disburse the aforesaid amount to the complainant and pay ₹10,000 compensation

For wrongfully not allowing a customer to withdraw ₹1.92 lakh from his account, the district consumer disputes redressal commission has directed ICICI bank to disburse the aforesaid amount to the complainant and pay ₹10,000 compensation.

The Ludhiana consumer commission in its order observed that the action of ICICI bank to not allow withdrawal from the joint account cannot be justified and amounts to deficiency in service. (Getty Images/iStockphoto)

Chander Parkash of Harbanspura, Ludhiana, stated in his complaint that he had taken a personal loan from ICICI Bank through its Feroze Gandhi Market branch, which he repaid on November 29, 2008.

He had a joint account with his son at the bank, which had ₹1.92 lakh as of October 3, 2018. However, he couldn’t withdraw cash from it, as the bank falsely alleged that ₹2.42 lakh was outstanding with regard to the loan which he had settled in 2008.

Parkash immediately provided a copy of full and settlement to the bank and requested them to square up the loan, but to no avail.

The bank stated that the loan account was closed in the records of the bank as settled on November 5, 2008 . “In addition to this, the lien was also removed and the complainant was informed. However, the complainant has still not withdrawn the complaint with malafide intentions,” stated the bank counsel.

The commission in its order observed that the action of the bank to not allow withdrawal from the joint account cannot be justified and amounts to deficiency in service.