ICICI Bank, an Indian multinational banking and financial services company has been penalised and asked to reverse the transaction of Rs 7,80,829 to customer’s account. The order was given on the grounds of a customer’s complaint of unauthorised transaction.
The district consumer disputes redressal forum Indore-2 directed the bank to reverse the amount into Vijay Nagar, Indore’s resident Anurag Gupta’s account and pay another Rs 10,000 as credit to him.
Gupta, 30, son of Pramod Gupta, was issued a credit card, which he had been using “very cautiously with due care”. The credit card limit was set at Rs 1,00,000.
To have an expenditure cushion, plaintiff took the credit card to South Africa (SA) on a family vacation with his wife from Feb 14, 2018 to Feb 26, 2018. After reaching SA, the couple rented a car from Europcar Imperial.
The car’s was insured and hence, had a cover of safety in case of accident. On Feb 18, 2018, the car had an accident. The plaintiff lodged in a complaint about the accident in Oudtshoorn, SA.
Further, plaintiff informed the booking company about the accident as well. The booking company offered another car and asked plaintiff to deposit South African rand (ZAR) 20,000 (Rs 1,11,333).
Since plaintiff had credit card limit of Rs 1,00,000 only, he asked a relative to help. The relative deposited Rs 1,00,000 to his account.
Plaintiff took out Rs 1,35,801 from the account. Out of this, Rs 1,00,000 were transferred from relative and Rs 35,801 were taken from credit card account. Rs 35,801 were taken out for deposit of the new car and other expenses.
After returning from the vacation, the plaintiff was shocked when he received the monthly statement on March 15, 2018. The statement showed expenditure of Rs 8,41,307 towards europear SA Gauteng AZ.
The transfer was, “without his knowledge and acceptance”, showing expenditure showing transfer of excess Rs 7,80,829 was done from his credit card.
Plaintiff immediately reported the matter and registered a service request with the bank’s customer care.
‘Followed norms, to no avail’
Plaintiff submitted before the consumer forum that according to settled banking laws, even as he timely informed the respondents about the unauthentic transaction, they did not pay any heed Hence, a complaint was filed before the consumer forum.
However, after listening to the arguments, the forum directed the company to pay the requisite amount to the complainant. Further, instructed the bank to pay compensation (Rs 10k) and cost (Rs 2k) within one month.
The defended would be charged 9 percent interest per annum after a month.