Indian Polity · Polity
An HNI customer filed a case against a bank for 'Deficiency in Service' related to a Portfolio Management Service (PMS): - Investment Amount: ₹2,50,00,000 (2.5 Crore). - Annual Management Fee: 1% of investment = ₹2,50,000. The District Commission dismissed the case. The customer wants to appeal to the State Commission. (a) Determine if the customer can file in the State Commission based on pecuniary jurisdiction under Consumer Protection Act 2019 (where value of consideration paid exceeds ₹50 lakh but up to ₹2 crore). (b) If the State Commission later awards ₹50,00,000 to the customer, and the Bank wants to appeal to the National Commission (NCDRC), what is the mandatory deposit percentage/amount (50% of awarded amount) the Bank must pay?
- 1Yes, he can go to State Commission; Deposit is ₹50,00,000.
- 2No, he must go to High Court; Deposit is ₹12,50,000.
- 3Yes, he can go to State Commission; Deposit is ₹25,00,000.
- 4No, he must go to National Commission; Deposit is ₹25,00,000.✓
Correct answer
No, he must go to National Commission; Deposit is ₹25,00,000.
Download Single Question PDF
Save this question and verified answer as a clean study sheet with live clickable link.
Share with Friends & Study Groups
Challenge your peer aspirants on WhatsApp or Telegram to solve this question!
Preparing for Indian Polity?
Practice full-length Indian Polity mock tests with real exam timers, instant score analysis, and all-India ranking.
Want more practice questions on Polity?
Solve complete topic-wise tests with detailed solutions on GkGet.
Related Practice Questions
Recommended practice questions in Indian Polity · Polity