Bombay HC fines SBI ₹5,000 daily for losing borrower's property documents
The Bombay High Court has ordered the State Bank of India (SBI) to pay a penalty of ₹5,000 for every day starting from December 1, 2023. This action follows the bank's failure to return property title deeds to a borrower, even though the loan was completely settled back in 2003. The court emphasized that banks cannot shirk their duty regarding misplaced documents by citing late requests from customers. This daily compensation will remain in effect until the bank successfully delivers certified copies and reconstructed property records to the borrower.
by shortkt.com✓