Banks Ought To Take Preventive Measures To Avoid Cheque-Related Fraud Cases, Chandigarh State Commission Holds Bank Of India Liable

The State Consumer Disputes Redressal Commission comprising, U.T. Chandigarh bench comprising Justice Raj Shekhar Attri (President) and Rajesh Arya (Member) directed Bank of India to pay Rs. 6 Lakhs to an NRI who had an account in the bank which resulted in a fraud of Rs 1.33 Crore rupees. Although the State Commission didn’t hold the bank liable of the fraud but it noted that the bank...