Sambalpur: Penalty of Rs 10 Lakhs to Punjab National Bank in Sambalpur District Consumer Court

Sambalpur: The Sambalpur District Camp Disputes and Settlement Commission has imposed a fine of Rs 10 lakh on the Punjab National Bank for giving incorrect information and neglecting to provide services.

Balaram Mishra, a resident of Parmanpur in Sambalpur district, went to various banks and applied for a loan in 2016 for an urgent financial need. However, various banks refused to give the loan, stating that there was an outstanding balance of Rs 1,81,839 in his name. He wrote to the Credit Information Bureau (India) Limited (CIB) to find out how it was showing such information when he had no such outstanding balance. Through a letter from CIBIL, it was informed that the loan account information of another person in relation to Punjab National Bank Paradip branch and Punjab National Bank Corporate Office was provided in the name of Mr. Mishra. So, it shows that the loan is outstanding in his name. It was promised by CIB that necessary amendments would be made. Even after the complainant waited for several days, there was no rectification.

In this incident, Mr. Mishra filed a complaint against PNB Paradip, PNB Corporate Office and CIB in the Camp Commission in 2019. Sambalpur Consumer Committee President Dr. Ramakant Sathpathi and member Sadananda Tripathi accused the authorities of Punjab National Bank. The commission has directed the PNB to pay compensation of Rs. 10 lakhs and 4% interest to complainant Mr. Mishra, as well as litigation costs of Rs. 10,000. Ordered to pay interest at the rate of 9% for non-payment of compensation within the stipulated time.