Consumer panel fines bank for alleged violation of promise while selling credit card

The Ernakulam District Consumer Disputes Redressal Commission has fined a bank ₹1.10 lakh for not fulfilling a promise made while selling a credit card. The bank was found guilty of engaging in unethical trading practices. The Commission ruled in favor of the petitioner who had faced issues with hidden charges and poor communication from the bank. The bank demanded additional fees for closing the credit card account, which led to a drop in the petitioner’s credit score and denial of bank loans. The Commission directed the bank to remove the petitioner’s name from the CIBIL defaulter list, restore their original credit score, and compensate them with ₹1 lakh plus ₹10,000 towards litigation costs.