The Economic Times

Bank failed to pay Rs 100 for insurance renewal, family's Rs 2 lakh claim rejected after son's death; SBI ordered to pay Rs 2.1 lakh

A consumer commission in Aligarh has directed State Bank of India (SBI) to pay Rs 2 lakh to a woman whose son died after the bank failed to deduct a Rs 100 insurance renewal premium despite sufficient funds in his account. The insurer had denied the claim, saying it had not received the premium or issued a policy for the disputed period. SBI must also pay Rs 5,000 in compensation and Rs 5,000 towards litigation expenses, with interest at 7% per annum.