LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

a.manoharan (Advocate 94431 45884 advocatemanoharan@gmail.com)     28 February 2011

consumer case

Dear friends, the customer presented his retirement-benefit-cheque into Nationalized Bank whereat he and his institution also  have the accounts. Hence, As the same bank  is a computorized branch , immediately his cheque was honoured and the same was accounted into his account. on the same day , within minutes, the same customer's another cheque issued to his friend was presented and the same was also honoured and transferred into  his friend's account . Subsequently , the customer presented his cheque for withdrawal , there is no sufficient balance in his account due to  his friend's collection of customer's cheque. now ,the question is ' is it lack of deficiency of service'. Any land mark judgement? thanks in advance.  


 1 Replies

Deepak Vasudevan (Tech Architect)     28 February 2011

Even if the funds are deposited into the account and for clearance purposes IMHO most of the banks consider the previous day's balance because the clearing processes are now centralized right?

Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register