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CUSTOMER HARASSMENT BY BANK
Off the tough route to loan recoveryA recent video from Pune shows loan recovery agents using force against a borrower. This incident reveals problems within Indian banks. Ban...
IIT Delhi graduate was happy to bag Rs 17 LPA in first job. Later realises the real cost he has to payA 24-year-old graduate from the Indian Institute of Information Technology Delhi has gone viral after quitting his Rs 17 LPA banking job, c...
10 years after credit card was closed, bank sent legal notice demanding Rs 33 lakh; cardholder fights back and wins Rs 5 lakh compensationA decade after closing his credit card and receiving confirmation, a customer was shocked to receive a Rs 33 lakh demand notice from his ba...
Axis Bank pulled up for deficiency in service, ordered to refund Rs 5,000 and pay Rs 10K fine over failed ATM transactionA Nagpur consumer commission has ordered Axis Bank to refund Rs 5,000 and pay Rs 10,000 compensation. This follows a failed ATM transaction...
RBI raises Ombudsman compensation cap to Rs 30 lakh for banking customersThe Reserve Bank of India has increased the compensation limit for customers to Rs 30 lakh for consequential losses and Rs 3 lakh for haras...
Customs issues high alert as fraudsters pose as officials at Bengaluru airportBengaluru Customs has issued a high alert regarding a fraud racket. Scammers impersonate Customs officials, targeting citizens with phone c...
Delhi HC flags credit card harassment, directs RBI to strengthen grievance systemThe Delhi High Court has issued new directions to safeguard credit card users after a city lawyer faced harassment over unauthorised transa...
RBI plans to empower ombudsman to award up to ₹30 lakh compensation to aggrieved bank customersThe Reserve Bank of India is enhancing the banking ombudsman scheme. Customers may receive up to Rs 30 lakh for losses. An additional Rs 3 ...
SBI employee penalised for misbehavior: Bank’s disciplinary action of cutting two salary increments upheld by high courtThe Chhattisgarh High Court dismissed an SBI employee's appeal. The employee faced disciplinary action for sexual harassment under POSH Act...
AAP minister Raaj Kumar Anand made hawala payments to China: EDThe Enforcement Directorate's 23-hour raids on the premises of Delhi Cabinet Minister Raaj Kumar Anand concluded early Friday. Anand allege...
RBI Governor Shaktikanta Das asks people to approach local police for issues against unregistered digital lending appsIn remarks that came in the wake of a spate of alleged suicides abetted by harassment by agents or officials of lending apps, Shaktikanta D...
PSU banks to give documents within 15 days from closure of loansThere have been problems faced by the banks' customers' in getting the loan documents back once the loan payments have been finished.
Long queues outside bank branches in Punjab, HaryanaDistress among citizens increased today as a large number of ATMs continue to remain closed due to non-availability of cash.
- Accounts can not be closed for non-compliance of KYC norms without notice
A Delhi consumer forum has ruled that a bank closing its customer's account without serving him notice seeking his various particulars.
- ET in the classroom: Banking Ombudsman
The Banking Ombudsman Scheme provides an expeditious and inexpensive forum to bank customers for resolution of complaints relating to certa...
- Banks to pay penalty for misuse of unsolicited credit cards
In order to prevent misuse of lost and stolen card, RBI has asked banks to issue signature-laminated cards with photograph & pin number. Ti...
- Court pulls up Standard Chartered Bank for harassing customer
Prosecuting banks and individuals who use false affidavits to implicate people in criminal cases would act as a deterrent, a court here sai...