Delhi

East Delhi

CC/361/2015

SATYA NARAIN - Complainant(s)

Versus

PNB - Opp.Party(s)

27 Oct 2016

ORDER

DISTRICT CONSUMER DISPUTE REDRESSAL FORUM (EAST)

GOVT. OF NCT OF DELHI

CONVENIENT SHOPPING CENTRE, FIRST FLOOR,

SAINI ENCLAVE, DELHI – 110 092

 

C.C. NO. 361/15

 

Shri Satya Narain Kaushik

S/o Late Shri R.D. Kaushik

43, Gagan Vihar, Delhi – 110 051

 

Asha Kaushik

W/o Satya Narain Kaushik’

43, Gagan Vihar, delhi – 110 051                                          ….Complainants

 

Vs.

 

Punjab National Bank

Through its Chief Manager

Preet Vihar Branch, Vikash Marg

Delhi – 110 092                                                                                 ….Opponent

 

Date of Institution: 28.05.2015

Judgment Reserved on: 27.10.2016

Judgment Passed on: 17.11.2016

CORUM:

Sh. Sukhdev Singh (President)

Dr. P.N. Tiwari  (Member)

Ms. Harpreet Kaur Charya (Member)

 

Order By : Ms. Harpreet Kaur Charya (Member)

 

JUDGEMENT

Jurisdiction of this forum has been invoked by the complainant, Shri Satya Narain Kaushik (complainant) and Smt. Asha Kaushik            (Co-complainant) against Punjab National Bank (OP) alleging deficiency in services.  During the course of proceedings, the complaint was amended.

2.        The brief facts of the amended complaint are that the complainant, a retired senior citizen along with his wife Smt. Asha Kaushik (Co-complainant) opened account in Senior Citizen Saving Scheme (herein after referred as SCSS) having A/c No. 139900SCSS000400 with his retirement benefits of Rs. 15,00,000/- to earn interest @ 9% p.a. and avail tax benefit under Section 80(c) of Income Tax Act.  The said deposit was further extended after maturity.  On 23.07.2014, complainant contacted OP for interest /TDS certificate, then he came to know Rs. 10,555/- had been credited to his account as interest from 01.01.2014 to 31.03.2014, instead of Rs. 33,750/-.  On enquiry, the complainant was informed that his deposit had matured on 31.01.2014. It was stated that neither any date of maturity was written on the passbook after extension of deposit, nor he was communicated through SMS alert, which he used to normally get. 

It was further stated that the complainant had closed the account and invested Rs. 15,00,000/- with HDFC Ltd. on 01.08.2015 for which he was getting interest @ 10% p.a. on Rs. 10,00,000/- and 9.70% on           Rs. 5,00,000/-.  Thus, the complainants have alleged loss of interest from 01.02.2014 to 31.07.2014.  Despite several representations, the grievance of the complainants remained unaddressed.  Therefore, the complainant had prayed for Rs. 45,000/- being the net difference in interest for a period of 6 months, directions to OP to pay interest @ 10% on Rs. 45,000/- from 01.01.2015, damages for mental agony as              Rs. 50,000/- and cost of litigation as Rs. 20,000/-.

            The complainant had annexed copy of passbook for SCSS-400 FDR receipts issued by HDFC Bank, representations dated 25.07.2014, 05.01.2015 and 26.03.2015, interest certificate pertaining to SCSS No. 400, passbook entries in saving bank account no. 1399000100065299.

3.        Notice of the complaint was served on OP, but they did not put appearance, hence, they were proceeded ex-parte.

4.        Evidence by way of affidavit was filed by the complainants, where complainant deposed on oath, the contents of the complaint, copy of the passbook (Ex.C1), copy of FDR with HDFC Ltd. (Ex.C2), representations made by complainant to OP (Ex.C3), interest statement for account no. SCSS400 (Ex.C5), passbook entries pertaining to saving bank account no. 1399000100065299 (Ex.C6).

5.        We have heard the arguments of Ld. Counsel for the complainants and have perused the material placed on record.  Ex.C6, the interest statement of term deposit starting from 31.01.2006, reveals that quarterly interest of Rs. 33,750/- was being credited to complainants account till 31.01.2014.  Complainants have also annexed the copy of passbook pertaining to SCSS account no. 400 and Ex.C1 (colly), wherein it has been printed that passbook shall bear the date of opening of account, the no. of account, the depositor’s name, photograph (also name and photograph of the spouse in case of joint account) and address, the amount deposited, the quarterly interest payable alongwith due dates of payment, the date of which the deposit will be due for final payment.

            As OP has not appeared, the averments made by the complainant have remained uncontroverted.  The OP has failed to endorse the date of maturity of deposit after renewal.  Further, statement of accounts shows that the OP paid interest @ 9% on deposit till 31.01.2014 and subsequently credited account by simple interest only.  The closure of SCSS-400 without informing the complainant is an arbitrary and negligent act on the part of OP.  Because of this act of OP, complainant has suffered financial loss of Rs. 45,000/-.

6.        Therefore, we direct OP to pay Rs. 45,000/- as net loss of interest to the complainant.  We also award Rs. 15,000/- as compensation for mental agony including the cost of litigation.  We also direct OP to pay interest @ 6% on Rs. 45,000/- from the date of filing till its realization. 

The awarded amount be paid within a period of 45 days, failing which, the total amount of Rs. 60,000/- will carry 6% interest from the date of filing till realization.

            Copy of the order be supplied to the parties as per rules.

File be consigned to Record Room.

 

(DR. P.N. TIWARI)                                              (HARPREET KAUR CHARYA)

Member                                                                                Member    

     

      (SUKHDEV SINGH)

             President