JUDGMENT

Kapadia, J. — Leave granted.

2. This civil appeal, by grant of special leave, is filed by Standard Chartered Bank Ltd. against order dated 14.7.2004 passed by National Consumer Disputes Redressal Commission (for short National Commission) dismissing the banks appeal and confirming the decree passed by the State Consumer Disputes Redressal Commission, New Delhi (for short State Commission) under Consumer Protection Act, 1986 (for short the Act).

3. Respondent herein was a non-resident Indian employed as a professor of Medical Physiology in the University of Libya from 1975 to 1980. Thereafter, he stayed in Libya till 1992. On 17.8.79 when the respondent was in Libya he had placed with the bank US$5000 in FCNR (Foreign Currency Non-Resident) Account for 63 months at 9% p.a. vide LF No.MR-24, DR No.316/79/39. The deposit was made by the draft drawn on New York Bank. The deposit was to mature on 17.11.84. The appellant confirmed the deposit. The deposit receipt is annexed to the paper book. In 1984, Reserve Bank of India (RBI) allowed the banks to keep FCNR for six years. Interest on such deposits was increased from 9% to 13% p.a. According to the respondent, in June 1984,