Court raps bank for not advertising schemes

The Delhi High Court has pulled up the state-run Punjab National Bank for not publicising its various zero balance account opening schemes to the public and directed it to publicise such offers at the earliest. A division bench of Chief Justice Ajit Prakash Shah and Justice S. Muralidhar rapped the bank and said: "Your chairman is answerable to every customer of the bank. You cannot shun your responsibilities." The court was hearing a petition by Kishore Kumar who wanted to know about the zero balance saving scheme of the bank but failed to do so despite various efforts. "Have you ever advertised about such schemes to public via newspapers, TV, banners or hoardings? All public sector banks are functioning in the same old model," asked the bench earlier this week. The court ordered the bank to inform it by Nov 11 steps taken to advertise their schemes. The court also quoted the example of Bangladesh where small micro-credit schemes are doing very well and also helping the people. "Punjab National Bank is least concerned to publicise its zero balance account scheme for the past three years," the bench said while asking the bank to provide all necessary information to the petitioner at the earliest.

"Loved reading this piece by Jithendra.H.J?
Join LAWyersClubIndia's network for daily News Updates, Judgment Summaries, Articles, Forum Threads, Online Law Courses, and MUCH MORE!!"

Join our Telegram group

Join our Whatsapp group