Commercial Purpose--Earning Interest On Fixed Deposit Does Not Constitute Commercial Purpose
Mere earning of interest on a fixed deposit does not, by itself, constitute a commercial purpose so as to exclude a depositor from the definition of "consumer" under Section 2(1)(d) of the Act. However, where a deposit is used to leverage credit facilities directly connected to business augmentation, a commercial nexus may be established. Allegations of deficiency in service that cannot be determined without first adjudicating criminal or tortious liability must be addressed before a civil or criminal court of competent jurisdiction.
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