STANDARD CHARTERED BANK LTD. vs B.N. RAMAN

The Supreme Court upheld the decision of the National Consumer Disputes Redressal Commission, confirming the decree of the State Consumer Disputes Redressal Commission under the Consumer Protection Act, 1986. The Court found that the respondent, a non-resident Indian, had not withdrawn his Foreign Currency Non-Resident (FCNR) deposit prematurely, as he was not in India at the time of the alleged withdrawal. The Court emphasized the importance of maintaining accurate records by banks and held that the bank's failure to provide proper evidence of the withdrawal constituted a deficiency in service under Section 2(1)(g) and Section 2(1)(o) of the Act.