Bank of Baroda Liable for Missed PMAY Benefit, Rules Court
SURAT: The Navsari Consumer Disputes Redressal Commission (CDRC) has held Bank of Baroda accountable for not processing a home loan borrower’s application for a Pradhan Mantri Awas Yojana (PMAY) subsidy. The bank has been ordered to pay Rs 3.75 lakh to the borrower, Kiran Tandel, along with 9% interest. This compensation includes Rs 2.35 lakh for the PMAY subsidy that was not received and Rs 1.4 lakh for additional interest incurred on the home loan. The commission also awarded Rs 5,000 for harassment and litigation costs. The commission dismissed the bank’s argument that the subsidy was a government matter and…