Udupi: Bank manager directed to pay compensation to customer

Udupi: District Consumer Disputes Redressal Forum president Shobha C V has directed the bank manager of Syndicate Bank's Sasthana branch to pay a sum of Rs 70,000 to a complainant who had availed of Rs 2 lakhs overdraft from the bank.

The complainant Thomas Rodrigues, a resident of Airody village here had pledged two LIC policies, one worth Rs 50,000 and another worth Rs 25,000 with the bank while availing the overdraft. 

In his complaint, Thomas mentioned that the bank had surrendered both the pledged policies without any intimation to him. He then approached the forum and produced  34 documents to claim that he was cheated by the public sector bank.

Forum president Shobha C V and other members T C Rajashekar and Sharadamma found substance in the arguments presented by Thomas and directed that a sum of Rs 70,000 be paid to the complainant as compensation, inclusive of court fee within one month period of the receipt of the order copy. 

However, Thomas has approached the Karnataka Consumer Disputes Redressal State Commission to seek more compensation.