NCDRC Holds Bank Of Baroda Liable For Deficiency In Service Due To Failure To Inform Joint Account Holder Before Releasing FDR

The NCDRC held Bank of Baroda liable for deficiency in service due to its failure to inform a joint account holder before releasing a Fixed Deposit Receipt (FDR). This ruling underscores the importance of communication and due diligence by financial institutions, particularly regarding joint accounts. The decision reflects the commission's commitment to protecting consumer rights and ensuring banks adhere to service standards.