Business · 16 Oct
SBI ordered to pay retired scientist Rs 15 lakh with interest after failing to inform him of deposit maturity
AI summaryA Hyderabad consumer commission ordered SBI to pay a retired scientist Rs 15 lakh plus interest for failing to inform him about the maturity of his deposit. The commission found the bank committed a deficiency in service by retaining the money at zero interest without valid basis. The bank was also directed to pay Rs 25,000 compensation and Rs 10,000 litigation costs.
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