News By/Courtesy: Ayush Jain | 25 Jun 2018 7:27am IST

HIGHLIGHTS

  • Consumer Forum in Raipur has imposed a penalty of Rs.2500 on SBI for the Non- Availability of Cash at the ATM
  • ATM itself was showing” No Cash Available” on three different dates and times, how it can be a case of internet failure
  • Due to mismanagement and irregularities committed by the bank management, the RBI restricted the activities of the bank

Recently, Consumer Forum in Raipur has imposed a penalty of Rs.2500 on SBI for the Non- Availability of Cash at the ATM. Consumer Forum states that when Banks are charging for usage of the ATMs for a whole year in advance and a client is free to use any ATM, he automatically becomes a customer. Consumer Forum also stated that when ATM itself was showing” No Cash Available” on three different dates and times,  how it can be a case of internet failure. It held that it is not a case of internet failure. Moreover, when the customers are penalized for no balance or less than the minimum balance in their accounts, Bank is also liable with no cash in ATM.

However, due to mismanagement and irregularities committed by the bank management, the RBI has restricted the activities of the bank and an administrator has also been appointed. Complainant has been regularly following up with the bank with the issue of getting a refund of his deposited amount. However, the RBI has imposed restrictions to the effect that maximum amount that can be withdrawn is of Rs 20,000.

Section Editor: Shilpa Rani | 25 Jun 2018 7:36am IST


Tags : #Bank #ConsumerForum #Penalty #SBI #NoCash #ATM

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