NCDRC Holds SBT Liable for Losing Original Title Deed Secured for Loan

The National Consumer Disputes Redressal Commission (NCDRC) held the State Bank of Travancore (SBT) liable for losing the original title deed secured by a borrower for a loan. The borrower approached the NCDRC after the bank failed to return the title deed upon loan repayment. The NCDRC found the bank negligent, ruling that the loss of such an important document constituted a deficiency in service under the Consumer Protection Act. The Commission ordered the bank to compensate the complainant for the loss and inconvenience caused, highlighting the importance of safeguarding crucial documents entrusted to financial institutions.