Insurance premium ‘not deducted’, SBI told to pay Rs 2 lakh after UP man dies in accident
An insurance policy holder in Uttar Pradesh has been awarded Rs 2 lakh by a consumer commission after her son died in a road accident due to the bank's failure to renew his policy. The State Bank of India was directed to pay the insurance claim, along with Rs 5,000 for harassment and Rs 5,000 for litigation expenses. The bank was held liable for deficient service as it did not deduct the Rs 100 insurance premium from the son's account on time, despite having sufficient funds available.
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