Tuesday, November 27, 2012

Seriously, can you really trust your documents with your bank

.....The IDBI customers mentioned above is to get Rs 3.5 lakh as compensation from the bank for losing his title deed. As per, the RBI Banking Ombudsman (BO) Annual report:
A complainant approached the BO alleging that the bank was not returning original title deed kept as a security for housing loan availed, even though the loan had been fully paid.
The bank replied that they were not able to trace the documents and had arranged for a certified copy of the documents and handed over the same to the complainant. The BO observed that loosing of original Title Deed was a serious lapse and the certified copies can never substitute the originals. The bank was directed to pay compensation of Rs 25,000 to the complainant for deficiency in service........

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