The National Consumer Disputes Redressal Commission (NCDRC) has directed Axis Bank to pay Rs 3.19 crore to a Delhi-based logistics company, holding the bank guilty of “deficiency in service” for refusing to accept demonetised currency notes for deposit during the 2016 demonetisation window.
The commission, comprising presiding member AVM J Rajendra and judicial member Anoop Kumar Mendiratta, was hearing an appeal filed by Procure Logistics Services Pvt Ltd against the Axis Bank.
In an order dated March 10, the commission said, “The bank clearly failed by repeatedly disallowing the complainant to deposit the notified cash into its own KYC-compliant account, despite multiple requests and persisted with this till the entire timeline lapses.”
It was alleged that the bank refused to accept the notes during the limited period allowed after the government announced demonetisation on November 8, 2016.
The commission noted that nothing prevented the bank from accepting the cash and reportin
