Banks realeated dispute
triokinath
(Querist) 28 September 2015
This query is : Resolved
my father aged 70 years deposited in state bank of india some amount in varistha nagrik jama yojna with option either or survivor . first name is my father,second name of his duaghter,she was unmarried that time ,after 1 year she doing love marriage, then amount maturity time completed.my father go bank withdrawl to amount .then she gives application to the bank that amount not payment to my father.then bank manager say to my father that both of you come togather then i do payment or not.then what my father do please suggest.
Kumar Doab
(Expert) 28 September 2015
At the time of maturity signature of both/all are required.
Rajendra K Goyal
(Expert) 29 September 2015
The version of Branch Manager is wrong. At the time of maturity, the amount can be claimed by either of the account holder. Your father should approach / talk to the controller, lodge complaint with the head office and send legal notice in case of need.
However, as per Senior Citizen Saving Scheme 2004,{Rule 3(3)}
" Accounts can be held both in single and joint holding modes. Joint holding is allowed only with spouse."
If the account was under the above schem, Bank was at fault to allow opening of account with daughter.
"Account opened in contravention of rules:- Whenever it comes to notice that an account has been opened in contravention of these rules, the account shall be closed immediately and the deposit in the account, after deduction of the interest, if any, paid on such deposit, shall be refunded to the depositor.
