Punjab National Bank Ordered to Pay Rs 43,000 Crop Insurance and Rs 10,000 Compensation to Sirsa Farmer

In Sirsa, the District Consumer Disputes Redressal Commission has issued a ruling against the Punjab National Bank branch located on Shahar Thana Road. The commission has ordered the bank to pay a compensation of Rs 10,000 for failing to pay the crop insurance amount to a farmer on time.

The commission’s chairman, PM Thakur, directed the bank to pay the farmer the pending crop insurance amount of Rs 43,000 within 45 days. Along with this amount, the bank must also pay six percent interest to the farmer as compensation for the delay.

Details of the Case

The farmer, Premchand, lives in the village of Nejadela Khurd and owns 15 Kanal 8 Marla of land. He has a bank account at the Punjab National Bank branch on Shahar Thana Road in Sirsa. As part of the Crop Insurance Scheme, the bank deducted Rs 2,837.03 from his account on 30 February 2021.

In 2021, Premchand planted cotton on his farmland. Unfortunately, a natural disaster destroyed the entire cotton crop. Following this, officials from the Agriculture Department visited the site and confirmed the loss of the crop. Premchand suffered a loss estimated at around Rs 40,000.

Premchand requested the bank to pay the insurance amount to help cover his losses. However, the bank did not release the payment. Because of this delay, Premchand faced a lot of trouble and harassment.

Finally, on 10 May 2022, Premchand filed a complaint with the District Consumer Disputes Redressal Commission against the Punjab National Bank. After reviewing the case, the commission ordered the bank not only to pay the crop insurance amount and interest but also to compensate Premchand Rs 10,000 for the hardship and legal expenses caused by the delay.