Commission finds bank liable for unauthorized transfer from NRI account
What happened
The Consumer Disputes Redressal Commission in Thrissur held IndusInd Bank Ltd. liable for deficiency in service after ₹4.22 lakh was transferred from Gopinathan's Non-Resident External account without authorization. The Commission determined that the bank failed to confirm the authenticity of the alleged email instructions and telephonic confirmation. It directed the bank to refund the amount, along with compensation and litigation costs.
From livelaw.in
Why it matters
The ruling establishes bank liability in cases where unauthorized transfers occur from Non-Resident External accounts. The Commission found that the bank failed in its duty to establish the authenticity of the instructions provided by Gopinathan.
From livelaw.in
Who's involved
- GopinathanComplainant who maintained a Non-Resident External account at the Thrissur branch
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The entities involved
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Thrissur
city in Kerala, India
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Gopinathan
botanist
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