Tuesday, October 19, 2010

Bank ordered to pay widow FD maturity amount

VADODARA: A 28-year-long struggle of a widow to get her fixed deposit (FD) amount back from a cooperative bank ended on Tuesday. The bank was ordered to pay the amount to her with interest by Vadodara District Consumer Dispute Redressal Forum. 

Kamla Gupta, wife of late Shriram Gupta, who made and sold the famous snack Shriram Tamtam in the city, had made a FD of Rs 4,800 in Shramjivi Nagarik Sahakari Bank. When the FD matured after a year and she approached the bank with her husband, they were asked to wait for some more days and were assured that compound interest for the remaining days would also be paid on the FD. 

However, this did not happen and the bank kept dilly-dallying with payment of the maturity amount for some reason or the other. "They even said that my late grandfather had withdrawn the money, but could not produce any evidence," said Kamla's grandson Hitesh Gupta, who is also a lawyer. 

Eventually, Kamla moved the consumer forum in the year 2007. While neither the complainant nor the bank remained present for hearings, the consumer forum gave an order on the basis of the evidence provided by the complainant. The court has ordered the bank to pay the complainant an interest of 10 per cent from April 4, 1983, when the FD was made. It also ordered the bank to pay Rs 1,000 for causing mental agony and a similar amount as cost. 

courtesy : times of india

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