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ICICI fined Rs. 50 lakh

NEW DELHI: The Delhi Consumer Commission fined the ICICI bank a whopping Rs.50 lakh for employing “goons” to recover loan. It deplored the practice of the banks intimidating consumers to pay the instalments.

The Commission also ordered the ICICI to pay Rs.5 lakh to a consumer, who was mercilessly beaten up by the recovery agents. They snatched a loaned car from him.

It deprecated the “audacity and impunity” with which the banks have been effecting forcible possession of vehicles. — PTI

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