The National Consumer Dispute Redressal Commission has directed the State Bank of India (SBI) and New India Insurance Company to waive off the remaining loan amount of Rs14,30,756, borrowed by a deceased Pune-based consumer in 2007 for purchasing a home.
The decision comes after the bank failed to inform the consumer about the discontinuation of the insurance policy, which had been offered as a complementary benefit to cover the loan. Instead, the bank continued to demand loan repayments from the customer.
This story is from the November 21, 2024 edition of The Free Press Journal.
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This story is from the November 21, 2024 edition of The Free Press Journal.
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