Gold jewellery stolen after being pledged for a loan: What must the bank pay the borrower? Consumer commission answers

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A Karnataka consumer commission has ruled that banks may have to compensate gold-loan borrowers for more than the net gold value if pledged jewellery is stolen while in bank custody. The borrower was awarded ₹88,362 towards making charges and stone value, besides compensation and litigation costs.

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Gold jewellery stolen after being pledged for a loan: What must the bank pay the borrower? Consumer commission answers

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