Consumer forum

What you wish to seek as guidance with two key words " Fraud by Bank".

Bank is organisation.  The officials may commit fraud and not the Bank.  Report the same to Vigilance dept, post this as grievance in on line portal, refer to Ombudsman as these are inexpensive and time bound.

If Bank fails to take any action, then after 45 days of such notice to them, approach Consumer forum for deficiency of service and compensation for loss.

Please always provide facts and do not waste time of experts in guessing the remedy without knowing facts/issue.

Post full facts of the matter.

Hi all,

Sorry, but it came as a surprise to me that how come my question was not published.

I opened an NRE account with a private bank

Got some money deposited in the account.

Went to the parental branch in India, and asked about the FD. The specific question i asked was about the withdrawl of money pre-maturely that is propr to the maturity date. The dlerk advised me that i will get the interest somewhat lower than the FD interest rate for the time, my money was kept in FD. I agreed and asked her to made an FD from my account.

10 months later, when i was in need of some money, i withdrew it from the account, and the amount from FD was swept out to my account. But, the interest awx not credited in my account for the parriod my money was in FD.

I enquired with the same clerk, who made the FD 10 months ago. She told me that the interest was credited to my account. I asked her to show me the same, but she could not do so. Then, she referred me to the Assst. Manager of the branch. I told him everything. Even he told me that the interest was credited to my account. I asked him to show the same, but he was also not successful. Then, he told me that the interedt will be credited to my account on maturity of the FD. I agreed, but told him that it should be displayed in the netbanking. Then, he made a call to someone, and started telling me that i will not get the interest as i have withdrawn the money prior to maturity date,I explained him each and everything, and even the clerk confirmed what i said. In fact, the staff of the bak didn't know by that time that NRE FD will not fethch any interest if money is withdrawn prior to maturity. This was the thing, i confirmed with the clerk 10 months ago while making the FD. When he came to know that this has happened because of their misguidance to me, he asked me to give him 1 day to sort out it. I met the manager of the branch and explained each and everything to him. He assured me that he will sort out the problem in a day or two. It has been more than 20 days that they have not dome abything in this regard.

In the meantime, i went to the branch twice, but the manager was not there. Then, i launched a complaint at their customer are number twice, but of no use. 10 days ago, ihave written a letter to the branch manager through registered post about complaining about the staff and to credit the interest in my account. Its about 8 days that he has got the letter, but has not responded.

What is thebest course of action dor me.

Thanks in acvance.

The simple thing you have to demand as consumer from the Bank under CP Act is like this. Send this by email, followed by traditional hard copy .  The details are not sufficient to guide, and once you receive the resposne we can find out deficiency of service.  Fraud is ruled out and there may be some irregularity and that can be fixed only studying the laid down norms vis a vis followed in your case.  Your interest is peanuts to the bank, and no one can risk his job, for misappropriating your interest amount.  Without knowing facts, never throw wild allegations on any one.

Branch Manager/Head.

..............................Branch.

Reg: Deficiency of services.

I request you to provide the following information in connecion with premature closure of my FD Account No...............dt.

a.Please provide me statement of account.

b.Please provide me copy of guidelines/directives/orders that state about interest payment to depositor on pre mature closure.

c.Please inform the a)Percentage of actual interest for the period actually deposit maintained  b) percentage the penal rate prescribed  c)Actual interest credited to my account , d)Calculation list  e)Certified copy of the ledger sheet disclosing such calculations.

e)Please provide a)Date of inerest credit   b)Amount of interest credit  c)The account in which such amount was credited.

f)Please provide copy of circular  the consumer redressal process and copy of Fair practices directives prevalent in the Bank as per RBI directives.

g)Please provide action taken on complaint right from date of receipt till date, providing the name of the concerned employee, his superior, entry no. in the Register, the normal time frame fixed for response.

Treat the information as most urgent and reply me immediately by e mail maximum within a week.

Yours faithfully,

......

Wait for the response and come back with point wise response given enabling members to guide further in the matter.

Thank you Sir.

I will do whatever you suggested, and get back to you as soon as i get a response.

Thanks again.