Indian Polity · Polity
A bank failed to notify a customer after flagging a high-value card transaction as suspicious, causing booking failure and loss of deposit. Concurrently, assigned relationship managers failed to respond. Evaluating liability under the Consumer Protection Act, 2019, which of the following is correct regarding 'Deficiency in Service' and compensation?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1The bank has zero liability as fraud detection systems override service commitments.
- 2The bank is liable for 'Deficiency in Service'; the customer is entitled to refund of fees and reasonable compensation for mental agony, but not speculative losses regarding professional reputation.✓
- 3High-net-worth individuals are barred from filing consumer complaints for non-commercial events.
- 4The bank is liable for all speculative damages claimed for loss of social standing.
Correct answer
The bank is liable for 'Deficiency in Service'; the customer is entitled to refund of fees and reasonable compensation for mental agony, but not speculative losses regarding professional reputation.
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