Can a fixed depositor holdr of Bank be consumer before the
V.V.RAMDAS
(Querist) 17 November 2009
This query is : Resolved
Dear friends,
Let me clarify, whether a fixed depositor hoder of a Bank can be a Consumerbefore the Bank as per the defination of C.P Act?
Devajyoti Barman
(Expert) 17 November 2009
Mr. Ramdas
Definitely a depositor can bring a bank to the consumer disputes redressal forum if the bank is in any of the manner deficient in service.
adv. rajeev ( rajoo )
(Expert) 17 November 2009
Yes depositor is the consumer of the Bank defined in the Cons., Act.
If any negligence by the banker in refunding the FD depositor can file a complaint in the Consumer Forum.
G V S Jagannadha Rao
(Expert) 17 November 2009
Yes. A fixed deposit holder can seek redressal from Consumer Disputes Redressal Forum for any deficiency in the services of the Bank in respect of his fixed deposit.
Raj Kumar Makkad
(Expert) 17 November 2009
Such person is availing the service of the bank and he is paying some amount as consideration for the service so definitely he is a consumer as defined under the provisions of CP Act. It is true that the consideration is hidden in such matters and nothing seems paid by customer directly to the bank.
Raj Kumar Makkad
(Expert) 17 November 2009
bank earn income from such deposited amount. bank further advance loans to other customers out of the deposits made by such depositors and thus the income derived from loanees is the actual consideration for availing the service of the bank by such depositors.
V.V.RAMDAS
(Querist) 17 November 2009
Raj kumarji, many many thanks for your clarification. but further clarification is required- X had some fixed deposits in the bank and he died leaving no heirs but he had executed a registered "will" in favour of "Y". Now the bank refuses to pay the matured amount to "Y". In this situation can "Y" file a case before consumor forum? -When X is consumer Y is also a consumer as he is the beneficiary.
