Hyderabad, April 10 -- The Ranga Reddy District Consumer Commission has held State Bank of India (SBI) liable for failing to recover Rs 23 lakh transferred to a wrong account, terming it a deficiency in service.

The Commission directed the bank to recover the amount from the beneficiary and pay Rs 50,000 as compensation within 45 days.

Loan taken to repay sister's dues

P Venkatalakshmi, a resident of Kukatpally, had availed a personal loan of Rs 25 lakh from SBI's Vivekananda Nagar branch to clear her sister's loan with APSFC. On October 27, 2023, she issued a cheque to transfer Rs 23 lakh via RTGS to the APSFC account.

Error in account number

However, due to a mistake in the account number-where four zeros were required but only thr...