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Get latest articles and stories on India at LatestLY. A consumer commission here has directed IDFC Bank to pay Rs 1 lakh compensation to a man from Navi Mumbai after it deducted EMI for a loan he never availed. India News | Consumer Panel Asks IDFC Bank to Pay Man Rs 1 Lakh for Deducting EMI for Loan He Didn't Avail.
A consumer commission in Mumbai has instructed IDFC Bank to compensate a resident of Navi Mumbai with Rs 1 lakh. The bank wrongly deducted EMIs for a loan he never took. The commission ordered the bank to refund the deducted EMIs with interest and provide the compensation for deficient service and the resulting mental and physical distress within 60 days of receiving the order.