The complainants, Anil and Neelam Goyel, alleged that in November 2015, when they attempted to withdraw money from an ATM machine, the transaction was declined. On contacting the bank, they were informed that the transaction had failed since their KYC details were not updated as per norms.
Although they had already updated KYC details in May 2015, they visited the bank’s branch in Fort, Mumbai to do so again. There, they were informed that there was an outstanding amount in the loans linked to the savings account.
However, since the loan amounts already stood settled, the complainants moved the NCDRC in 2016 alleging deficiency in service on part of the bank. They sought compensation of ₹3.55 crores.
Source: Barandbench
