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India: NCDRC: Judgement: Bank held liable for delay in insurance purchase

SBI Vs Saraswati Paul: 

“In view of the foregoing, it is manifest that the petitioner Bank erred in delaying in obtaining the insurance cover on behalf of the respondent/complainant. This was a deficiency in service which is admitted on the basis of facts since the premium was deducted from the loan account of the respondent/complainant on 09.02.2009, as also evidenced from the passbook entries, while the loan was sanctioned in 2008.”

“In view of the foregoing discussions and in the facts and circumstances of the case, the revision petition is therefore found to be without merits and is accordingly disallowed. The order of the State Commission is allowed and upheld. Parties shall bear their own costs. Any pending IAs stand disposed of with this order.”

Link to the judgment is here