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Standard Chartered Bank Ltd vs Dr. B.N. Raman on 14 July, 2006

iv) Standard Chartered Bank Ltd. Vs. Dr. B. N. Raman reported in (2006) 5 SCC 727 - It was a case where an NRI who stayed in Libya placed with the appellant bank US $ 500 in the FCNR account for certain period @ 9% interest p.a. The complainant claimed the deposit together with interest @ 18% p.a. The bank opposed the complaint on the ground that the matter cannot be adjudicated by the consumer fora. Their Lordships considering the fact that the banks provide or render service/facility to its customers or even non-customers they attract the jurisdiction of the consumer fora.
Supreme Court of India Cites 8 - Cited by 39 - Full Document
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