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While upholding an order passed by the state commission, the national consumer disputes redressal commission (NCDRC) directed Aegon Life Insurance Company Ltd to pay Rs55 lakh with 6% interest and Rs3.05 lakh as compensation and cost of litigation to the nominee of the deceased life insured (DLA). ....
The court used the concept of "estoppel by election of remedy" which applies when multiple remedies are available for an issue and where the remedies might run in contradiction to each other. ....
Upholding the orders passed by the fora below, the national consumer disputes redressal commission (NCDRC) directed HDFC Bank Ltd to pay as on today s value of eight sovereign gold pledged by a customer that was arbitrarily sold by the Bank. ....
Developing a group housing project without the necessary infrastructure for habitation amounts to unfair trade practice, the national consumer disputes redressal commission (NCDRC) observed while directing New Delhi-based Raheja Developers Ltd to refund the entire amount deposited by homebuyers with 9% interest. ....
Many bank customers have sometimes faced the issue of not receiving money from the automated teller machine (ATM) even after the money is debited from their accounts. For failed transactions like cash not dispensed from ATMs, banks are mandated to auto-reverse the transactions within the transaction date (T)+5 days. For any delay after this period, the banks are mandated to automatically pay the customer compensation of Rs100 per day, as per guidelines issued by the Reserve Bank of India (RBI) in September 2019. ....