Consumer protection: Bank held liable for changing policy without consent
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A bank has been held liable for changing its policy without consent in a case involving Shri Sanwar Mal Sharma, who sought a business loan of ₹34 lakh from ICICI Bank. The loan, sanctioned on June 9, 2007, included an insurance premium for protecting stocks against fire and burglary. Following a fire incident on August 4, 2009, the issue arose regarding the bank's policy changes and the implications for the insured goods.
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