Lok Sabha Question No. 6503 (UNSTARRED), answered on 2018-04-06
Subject: Compensation Awarded by Banking Ombudsman
Ministry: FINANCE
Asked by: SANJAY SHAMRAO DHOTRE

## GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF FINANCIAL SERVICES LOK SABHA

## UNSTARRED QUESTION NO.6503 TO BE ANSWERED ON THE 6 th  April, 2018/CHAITRA 16, 1940 (SAKA)

## Compensation Awarded by Banking Ombudsman

## QUESTION

## 6503. SHRI SANJAY DHOTRE:

Will the Minister of FINANCE

may  please  refer  to  Unstarred  Question  No.  2524  dated  09.03.2018  regarding 'Banking Ombudsman' and state:

- (a) the amount of compensation awarded by the Banking Ombudsman, New Delhi to the  complainants  for  any  loss  suffered  by  them  arising  directly  out  of  the  act   or omission of the bank during each of the last three years and the current year;
- (b)the amount of compensation in addition to the compensation as stated above not exceeding rupees one lakh awarded to the complainants by the Banking Ombudsman, New Delhi for loss  of  complainant's  time,  expenses  incurred  by  the complainants and harassment/mental agony suffered by the complainants during the said period; and
- (c)  the  time  taken  by  the  Banking  Ombudsman,  New  Delhi  in  awarding  the  said compensations to the complainants?

## ANSWER

## THE MINISTER OF STATE IN THE MINISTRY OF FINANCE (SHRI SHIV PRATAP SHUKLA)

- (a)  to  (c):-The  details  of  amount  of  compensation  awarded  and  time  taken  for awarding  the  said  compensation  by  the  Banking  Ombudsman,  New  Delhito  the complainants  for  any  loss  suffered  by  them  arising  directly  out  of  the  act  or omission  of  the  bankduring  each  of  the  last  three  years  and  the  current  year  is given at Annexure.

Reserve Bank of India has informed that they do not maintain any record for the compensation amount (if any) for the loss of complainant's time, expenses incurred by the complainants and harassment / mental agony suffered by the complainant.

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## Annexure

Annexure referred in reply to Part (a) to (c) of reply to LokSabhaUnstarred Question No.  6503  for  answer  on  06.04.2018  regarding  'Compensation  Awarded  by  Banking Ombudsman'

|   SR NO |   Complaint Number | Complainant Name   | Bank Name            | Date of Receipt   | Award Date    | Award Implement ed Date   | Comments                                                |
|---------|--------------------|--------------------|----------------------|-------------------|---------------|---------------------------|---------------------------------------------------------|
|       1 |    201415014000046 | AJIT PAL SINGH     | PUNJAB AND SIND BANK | 01-Jul- 2014      | 07- Nov- 2014 | 19-Nov- 2014              | Rs 50,000/- as compensation amount was issued for gross |

|    |                 |                  |                      |              |               |                                                                                               | deficiency in service committed by the bank. However, later on the original title deeds were traced by the bank. The same was treated as compliance of the award. Also the complainant submitted satisfaction letter in the matter.   |
|----|-----------------|------------------|----------------------|--------------|---------------|-----------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|  2 | 201415014000137 | JAGDISH CHANDER  | STATE BANK OF INDIA  | 02-Jul- 2014 | 18- Nov- 2014 | 29-Dec- 2014                                                                                  | Rs 2,00,000/- with interest as applicable to a PPF account from the date the debits were made to his account till the date the amount of Rs 2,00,000/- was re-credited. The bank paid Rs 2, 33,350/-.                                 |
|  3 | 201415014000202 | ABHAY SHARMA     | UNION BANK OF INDIA  | 03-Jul- 2014 | 16-Oct- 2014  | 27-Oct- 2014                                                                                  | Award issued for Rs 4000/- and the bank paid the amount                                                                                                                                                                               |
|  4 | 201415014000505 | PREMA GULATI     | CANARA BANK          | 11-Jul- 2014 | 20-Oct- 2014  | The award became null and void in the absence of the complaina nt's acceptance within 30 days | Award issued for Rs 6, 88,500/- with interest at SB rate from the date the cheque was collected by the bank till the date of payment of Rs 6, 88, 500/- to the complainant.                                                           |
|  5 | 201415014001393 | SHIV KUMAR SINGH | PUNJAB AND SIND BANK | 07-Aug- 2014 | 11- Nov- 2014 | 20-Feb- 2015                                                                                  | Rs 10,000/- along with interest at fixed deposit rate plus 2% for the period the customer remained out of funds. The bank paid Rs 12,                                                                                                 |
|  6 | 201415014002271 | MAJ RAKESH SINGH | CANARA BANK          | 01-Sep- 2014 | 29- Dec- 2014 | 06-Apr- 2015                                                                                  | 785/-. Rs 8,28,041/- along with interest at the                                                                                                                                                                                       |

|    |                 | BHIST                                         |                                                              |              |              |                                                | applicable FD rate. The bank paid Rs 8,64,083/-.                                                                                                                                               |
|----|-----------------|-----------------------------------------------|--------------------------------------------------------------|--------------|--------------|------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|  7 | 201516014005145 | MOHD MAQBOOL WANI FOR GREEN VALLEY DRY FRUITS | JAMMU AND KASHMIR BANK LTD                                   | 23-Sep- 2015 | 29-Mar- 2016 | Award was set aside by the Appellate Authority | The bank was advised to pay compensation amount of Rs Ten Lakh. However the Award was set aside by the Appellate Authority                                                                     |
|  8 | 201617014006771 | DIGVIJAY SINGH KHURANA                        | VIJAYA BANK                                                  | 21-Sep- 2016 | 27-Apr- 2017 | 15-June- 2017                                  | An award for Rs 2,00,000/- was complied with, by the bank                                                                                                                                      |
|  9 | 201617014011505 | KAVI RAJ TYAGI                                | CORPORA TION BANK                                            | 02-Dec- 2016 | 17-Jul- 2017 | 21-Aug-17                                      | The bank was directed to redraw the loan account of the complainant by reversing the entries made on account of two disputed instalments totalling Rs. 4,11,969/-. The bank complied.          |
| 10 | 201617014013035 | SUBRATA CHATTERJ EE                           | CORPORA TION BANK                                            | 27-Dec- 2016 | 17-Jul- 2017 | 24-Aug-17                                      | The bank was directed to redraw the loan account of the complainant by reversing the entries made on account of two disputed instalments totalling Rs. 7,92,229/-. .The bank complied.         |
| 11 | 201718014003068 | UMESH SHARMA                                  | UNITED BANK OF INDIA, COMPLAIN T AGAINST UNION BANK OF INDIA | 18-Aug- 2017 | 19-Mar- 2017 | Under Implement ation                          | Rs 10,000/- with interest as applicable to a fixed deposit from the date of debit of the complainant's account i.e. April 23, 2017 to actual date of payment within a week of receipt of Award |

Source:- Reserve Bank of India

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