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Axis Bank
A consumer commission in Maharashtra's Nagpur has pulled up Axis Bank for "deficiency in service", directing it to provide a refund and pay Rs 10,000 as compensation to a customer who lost Rs 5,000 in a failed ATM transaction eight years ago. The District Consumer Disputes Redressal Commission (Additional DCF), Nagpur, termed the non-receipt of cash after the amount got debited from the customer's bank account at an ATM as "a serious matter". It is the bank's responsibility to examine such transactions and to give immediate relief to the customer, the commission asserted. In a verdict delivered last month, the commission found that the bank didn't take the complainant's grievance "seriously" and failed to provide a fair hearing through the ombudsman process. The failed transaction dated back to August 19, 2018, when the complainant, a resident of Nagpur, claimed he attempted to withdraw Rs 5,000 from an Axis Bank ATM. Though the machine failed to dispense any cash, the amount was
The National Consumer Disputes Redressal Commission (NCDRC) has directed Axis Bank to pay Rs 3.19 crore to a Delhi-based logistics company, holding the bank guilty of "deficiency in service" for refusing to accept demonetised currency notes for deposit during the 2016 demonetisation window. The commission, comprising presiding member AVM J Rajendra and judicial member Anoop Kumar Mendiratta, was hearing an appeal filed by Procure Logistics Services Pvt Ltd against the Axis Bank. In an order dated March 10, the commission said, "The bank clearly failed by repeatedly disallowing the complainant to deposit the notified cash into its own KYC-compliant account, despite multiple requests and persisted with this till the entire timeline lapses." It was alleged that the bank refused to accept the notes during the limited period allowed after the government announced demonetisation on November 8, 2016. The commission noted that nothing prevented the bank from accepting the cash and reportin