Bank manager ordered to pay compensation in Udupi

UDUPI: Udupi district consumer disputes redressal forum has directed compensation of Rs 70,000 to be paid by the manager of Sasthana branch of Syndicate Bank in Udupi district to a complainant.
The complainant Thomas Rodrigues of Airody village in Udupi taluk told the forum president Shobha C V that he had borrowed an overdraft of Rs 2 lakh from Syndicate Bank’s Sasthana branch in Udupi district.

He had pledged two LIC policies, one worth Rs 50,000 and another worth Rs 25,000 with the bank.  Later on, Thomas came to know that his two LIC policies pledged were surrendered by the bank without informing him. Thomas 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 members T C Rajashekar and Sharadamma opined that the argument, of the complainant who moved to forum seeking compensation for the injustice meted out to him by the bank, holds water. The compensation amount of Rs 70,000 to be paid to Thomas within one month period after the receipt of the order copy includes court fee of Rs 10,000 that he incurred during the entire.  However, Thomas has approached the Karnataka Consumer Disputes Redressal State Commission to seek more compensation.