Consumer commission orders SBI to pay ₹1L to Punjab man
India
SBI just got called out by a consumer commission and has to pay ₹1 lakh to a 57-year-old man from Punjab.
Even after he paid off his car loan in November 2025 and got the closure certificate, SBI kept trying to recover EMIs, and even hit him with an extra ₹590 penalty.
The commission said this was negligent and unfair, causing both financial loss and stress.
SBI must refund penalty, correct CIBIL
Besides the compensation, SBI now has to refund the penalty fee, correct the man's CIBIL score (so his credit isn't messed up), and cover ₹10,000 in legal costs.
The bank's delay meant more hassle for the customer, so they've got 45 days to set things right.