Chandausi (Sambhal): The District Consumer Forum has imposed a fine of Rs 10,000 on Punjab National Bank for failing to provide the no dues certificate even after the consumer had deposited the loan amount. Additionally, the forum has ordered the bank to provide a no dues certificate to the consumer.
The complainant, Bhuvanesh Kumar, had taken a loan of Rs 22 lakh from Punjab National Bank Bahjoi in 2019. In exchange for the loan, he had deposited the house documents with the bank. After some time, the bank informed the consumer that orders had been received to deposit the loan and that he should also pay his outstanding loan amount. As a result, the consumer paid the entire loan amount to the bank, and the house documents were returned. However, the bank did not issue the no dues certificate.
In 2023, the consumer received a notice from the bank stating that there were still dues owed in relation to the loan. The consumer filed a complaint with the consumer forum regarding this matter. The bank presented its stand, claiming that the loan amount was still outstanding. The complainant, through his advocate, presented his side. After hearing both sides, the Consumer Forum President canceled the bank’s notice and imposed a fine on the bank. The forum also ordered the bank to issue a no dues certificate.
As far as I understand after reading case of penalty, imposed by Forum, this matter may be by negligence of non removal of mortgage from CERSAI portal which was launched in,2011 it has today matured into a complete registry encompassing security interest of immovable, movable, intangible properties and assignment of receivables.
Most pathetic bank in terms of customer service. They are bunch of lazy morons who are just there to do time pass and enjoy benefits of govt job. They should be put on variable pay immediately
You must write something with some credible facts.