Consumer Panel Fines Axis Bank Rs 10,000 for Failed ATM Transaction

• Nagpur consumer commission ordered Axis Bank to pay Rs 10,000 compensation and refund Rs 5,000 for a failed ATM transaction.
• The incident dates back to August 19, 2018, where Rs 5,000 was debited from a customer's Central Bank of India account but no cash was dispensed from an Axis Bank ATM.
• The District Consumer Disputes Redressal Commission (Additional DCF), Nagpur, found "deficiency in service" as the bank failed to address complaints seriously.
• Axis Bank did not appear before the commission despite legal notice, leading to an ex parte hearing by Satish Sapre and Milind Kedar.
• The compensation covers mental and physical harassment caused by the bank's negligence and failure to conduct proper inquiry or CCTV verification.