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Bank issues ATM card to wrong person, fined ₹19L after ₹21L stolen
short by Pragya Swastik / on Saturday, 9 February, 2019
Karur Vysya Bank has been fined ₹19 lakh by National Consumer Disputes Redressal Commission after it wrongly issued Hyderabad-based NRI Sayeed Abdul Sattar's ATM card to his nephew. Abdul realised his nephew had been duping him and stole ₹21 lakh using his ATM card. His account balance had come down to just ₹52 before he filed a case.