Bank's Error Renders 3.2 Crore Rupees Worthless; Court Delivers Stern Lesson

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NCDRC Orders Axis Bank to Pay 3.2 Cr + Interest for Demonetization Cash Refusal

यह मामला नोटबंदी के दौरान का है.

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News18•14-03-2026, 11:36

NCDRC Orders Axis Bank to Pay 3.2 Cr + Interest for Demonetization Cash Refusal

•National Consumer Disputes Redressal Commission (NCDRC) ordered Axis Bank to return 3.2 crore rupees with 6% interest.
•Bank failed to deposit Procurer Logistics Services Private Limited's cash during the 2016 demonetization.
•The 3.2 crore became 'worthless paper' after the deadline due to the bank's refusal to accept it.
•Bank cited the company's account as 'suspicious' and 'high-risk', but NCDRC found the decision unilateral.
•Commission stated the bank flouted government rules and RBI notifications, and should have accepted the cash and reported it.

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