The Bank's Lost Papers: A Tale of Accountability in the Time of Loans A recent Bombay High Court verdict has ordered State Bank of India to pay Rs 5,000 per day to In Vogue Creations for losing their property papers.
This case is not just about a bank misplacing documents; it's an indictment of lax attitudes towards customer service and record keeping that have come to define the Indian banking system.
For decades, SBI held onto the original title documents for two properties as security for loan facilities.