Dav Public School vs The Senior Manager Indian Bank Midnapur ...

The Supreme Court upheld the decision of the National Consumer Disputes Redressal Commission, affirming the State Consumer Disputes Redressal Commission's ruling that limited the liability of Indian Bank to Rs 1,00,000 despite the complainant's total loss of Rs 30,00,000 due to unauthorized online transactions. The Court established that the bank's inadvertent linking of the school's accounts with the Principal's personal CIF constituted a deficiency of service under the Consumer Protection Act, 1986. However, the Court found that the bank's liability was appropriately capped as per the applicable regulations.