Koraput: Axis Bank Manager Fined Rs 7,000 For Dishonouring Cheque

71

Koraput: The Consumer Disputes and Redressal Forum here on Wednesday imposed a fine of Rs 7000 on the branch manager of Axis Bank on the charges of dishonouring a cheque.

Based on the complaint lodged by one S P Debaje of Koraput, the forum asked the bank official to pay a fine of Rs 7,000 as compensation and Rs 3,000 towards litigation cost within 30 days from the date of communication of the order.

In case, if the official failed to pay the amount, an annual interest of 12 per cent would be imposed on the awarded sum.

According to the complaint registered on March 31, 2018, Debaje said he had purchased an LED TV from a shop in Koraput and made a payment of Rs 55,000 through a cheque of Axis Bank.

However, the bank’s Koraput branch returned the cheque to the shop owner, citing insufficient funds in the account and charged Rs 690 for the bounced cheque, the complainant said.

Following this, Debaje  approached the forum seeking financial compensation of Rs 10,000.

The forum found the concerned bank authorities guilty and imposed the fine after examining the case, verifying documents and recording statements.

The bank authorities have also initiated the process for refund of Rs 690 to the complainant.

Leave A Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.