GANGA NAGAR CENTRAL COOP.BANK LTD. vs PUSHPA RANI

The Supreme Court upheld the liability of the Ganga Nagar Central Cooperative Bank Limited to compensate depositors of the Cooperative Mini Bank, Sujavalpur, for deficiency of services under the Consumer Protection Act, 1986. The Court found that the Bank had guaranteed repayment up to Rs.10,000 and was thus jointly and severally liable for the loss incurred by the depositors. The Court modified the interest rate awarded by the lower forums from 12% to 9% per annum, affirming the findings of the State Commission and the National Consumer Commission.