Bank accepts gold for loan, later calls it fake; customer gets ₹14.5 lakh

A consumer court has ordered a bank to pay ₹14.5 lakh to a Shimla customer after it declared his pledged gold jewellery fake following an internal audit without informing him. The compensation includes the market value of 103 grams of 22-carat gold, ₹30,000 for harassment and ₹20,000 in legal costs. The customer had pledged the jewellery to secure three loans.