Bank issues ATM card to wrong person, to pay Rs 19 lakh

Meanwhile, the bank held that they had been issuing bank statements to the property of the account holder in the city.

Published: 09th February 2019 05:30 AM  |   Last Updated: 09th February 2019 10:38 AM   |  A+A-

Image of ATM cards used for representational purpose only.

By Express News Service

HYDERABAD: IN one of the several cases that were heard at the NCDRC’s circuit bench, a Hyderabad-based NRI was in for the shock of his life when he realised that his nephew had been duping him by stealing Rs 21 lakh using his ATM card.

Reportedly, the ATM card was falsely issued by the bank to the latter’s name. The commission directed Karur Vysya Bank to refund the amount in addition to paying a compensation of Rs 19 lakh.

The case was filed by  Sayeed Abdul Sattar, an NRI working in the USA. He had opened a joint account with his sister at the Karur Vysya Bank and used the same to deposit the monthly rentals that he would get. Upon appointing his sister as the account holder, Sattar was shocked to find out that his account balance had come down to Rs 52. As soon as he updated his passbook, it was revealed that his nephew Naimathullah Hussaini withdrew the amount using his ATM card for several transactions.

After questioning the bank regarding his nephew’s access to the account, the bank said that he had applied for an ATM card using the account number of Sattar instead of his own. The bank failed to verify the account number and falsely issued the ATM card.   

Meanwhile, the bank held that they had been issuing bank statements to the property of the account holder in the city. It shot back at the complainant for not pointing out that his money was being withdrawn without his notice.

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