The apex consumer commission has directed a cooperative bank in Kerala to pay Rs five lakh as compensation to a man for losing his property's original title deed which was pledged with it. The National Consumer Disputes Redressal Commission (NCDRC) also directed the Mayyanad Regional Co-operative Bank to pay Rs 10,000 as litigation cost to Kerala resident Ebrahimkutty. The complaint said he repaid his loan, but the bank did not return the original title deed and, in 1999, it orally informed him that the original deed was missing. Later the bank informed him that the title deed was lost during the shifting of its building premises. The state consumer commission had awarded a compensation of Rs 10 lakh to Ebrahimkutty against which the bank approached the NCDRC.

Source: dna February 21, 2017 08:37 UTC