Bank & Insurer Told to Pay Rs 35.7 Lakh to Trader After Cheque Bounced

Times of India · business

The Maharashtra State Consumer Disputes Redressal Commission has ordered the State Bank of Hyderabad and United India Insurance Company to pay Rs 35,75,735 to a Parbhani trader. This compensation is for losses incurred due to a shop fire after his insurance premium cheque bounced. Neither the bank nor the insurer informed the trader about the dishonoured cheque, which had a value of Rs 10,565. The commission noted that the trader only learned of the bounced cheque after the fire occurred.