This complaint is against the officer incharge of Punjab National Bank, Ghaziabad, Branch-Kaushambi. I had made two FDs in the name of my daughter Ms. Shubhangi U/g Sanjeev Kumar Garg with following Details:
No. RNP 332116 ( A/c No. 993) Date of Start: 27.01.1998 Valiidity of deposit: 14 years Rate of Interest: 11.5% Amount: Rs. 50, 000.00, Maturity Amount : 2, 44, 522.00
No. RNP 332117 ( A/c No. 993) Date of Start: 27.01.1998 Valiidity of deposit: 15 years Rate of Interest: 11.5% Amount: Rs. 50, 000.00 Maturity Amount : 2, 73, 878.00
The above FDs are continuing since the date of the opening. We were regularly getting the TDS certificates and information of the FDs but for this financial year when my father who is approximately 73 years old approched to the Bank Manger. He denied for having the information of the Bank and told that it has been encashed and having no clue.
My father insisted for the same and shown the original FD. Then the official on duty has taken the original FD from him and told that these FDs are no more valid as no FD can be more than 10 years. My father shown the original FD and shown the rate of interest, period and special note "Payment to be made only after the maturity date of the aforesaid child" but he refuse to accept any request and unilaterly extended the validity and revised the FDs are as under:
No. RNP 332116 ( A/c No. 993) Date of Renewal 27.01.2008 Valiidit upto 27.01.2011 Rate of Interest: 8.5% Amount: Rs. 1, 44059.00, Maturity Amount : 1, 85, 407.00 (Direct loss of Rs. 59, 115)
Taken the FD and issue the New Confirmation of Deposit bearing ID No.[protected] Date of Start: 27.01.2008 Valiidity upto 27.01.2011 Rate of Intersst 8.5% Amount of Rs. 1, 44, 585.00 Maturity Amount : 1, 86, 084.00 (Direct loss of Rs. 87, 794)
We are fail to understand the melafide intention of the Bank manager and the Bank why this unilateral decision was taken without our signatures and acceptance. This is to update that we were having the other choice also but considering the reputation of the bank we have taken the decision to go with the PNB and now w are getting cheated by the bank.
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Bank Daily Deposit Scheme — Interest not given on the scheme
The small shopkeepers/investors are depositing a small amount on Dalily basis with the banks say Rs. 10/0, 20/-, 30/- 50/- per day. The amount is usually withdrawn after a certain period with min. of 1 year and only the amount deposited in total is refudned at maturity. Ever since , RBI has announced the interest on daily balances in savings accounts, the same should also be applicable to such savings. If not equivalent to savings account but atleast to encourage savings and add value to investor's money with the bank