ICICI Bank Asked To Pay Rs35,000 for Collecting EMIs for Undelivered Jewellery Set Worth Rs1,790
Recovering six equated monthly instalments (EMIs) from a customer for a jewellery set worth Rs1,790, cost ICICI Bank Ltd Rs35,000, excluding an interest of 6%pa (per annum). In an order, the national consumer disputes redressal commission (NCDRC) directed ICICI Bank to pay Rs25,000 compensation and Rs10,000 litigation cost to a customer.
Source: moneylife.in