Per Mr.Dhanraj Khamatkar, Hon’ble Member

This appeal takes an exception to an order passed by the District Consumer Disputes Redressal Forum, Nasik dated 18/2/2010 in consumer complaint no.124/2009.  Facts of the case in brief can be summarized as under:-

Appellant along with her deceased husband has opened account with the respondent under Monthly Income Scheme (MIS) by depositing an amount of Rs.4 lakhs on 11/11/2002 and the Account number is 652932.  The duration of the scheme was six years i.e. from 11/11/2002 to 11/11/2008 along with interest @ 12%.  Under the scheme, appellants were entitled for interest @ 12% p.a.  Similarly, they were also entitled for 10% bonus.  Accordingly, entries were taken in the passbook.  However, in spite of guaranteeing interest @ 12% p.a. opponent has given interest of 9% p.a.  Appellant’s husband died on 12/5/2003 and hence the name of their son was added in place of deceased husband of the appellant.  Respondent instead of paying Rs.4,40,000/- as per the terms of the scheme paid only Rs.3,88,425/- and refused to give remaining amount of Rs.51,575/-.  Similarly, they have not paid amount of interest of Rs.6000/-. Despite of serving a notice through advocate, respondent had not paid the amount and, hence, the appellant filed the consumer complaint claiming an amount of Rs.51,575/-, an amount of interest of Rs.6000/- and interest @ 3% p.a. i.e. Rs.72,000/-, Rs.1 lakh for mental agony and Rs.10,000/- as cost.

Forum below had enquired into the complaint and vide order dated 18/2/2010 dismissed the complaint.  It is against the order dated 18/2/2010 present appeal is filed. 

Admittedly, appellant has invested an amount of Rs.4 lakhs on 11/11/2002 for a period of six years i.e. upto 11/11/2008 and appellant is claiming interest rate @ 12% p.a.  At the time of deposit, rate of interest of the postal authority was @ 12% p.a. and after the maturity of the scheme 10% bonus was also payable.  Though on the passbook the rate of interest written is 12% p.a. however, as per the scheme the rate applicable was 9% p.a. and it is a practice of the postal authority that whenever there is change in the interest rate, they published it for the information of the public. 

It is further seen that the husband of the appellant no.1 died on 12/5/2003 and, thereafter, appellant has included the name of appellant no.2 as heir.  However, as per the scheme rules, the heir cannot be an account holder and after the death of one of the account holders account becomes single account.  As regards delay in payment of the amount, it is seen that the appellant herself has not taken the amount and as per the single account rules the postal authorities have made payment to the appellant.  Post office Monthly Income Scheme (Rules 1987) Rule 20 explains the status of joint account on the death of one of the depositors and as per the rules, if one of the depositors dies in a joint account, the joint account shall, as from the date of death of the said depositor, be deemed to be a single account in the name of survived depositor. 

Apex court in Civil Appeal no.195/1995 decided on 01/5/1995 held that, “inadvertent omission on the part of clerical staff of post office to correct the old rate of interest and maturity value on the NSC which was sold after the issuance of said notification held, did not amount to deficiency in service.  Hence did not entitle the purchaser to uncorrect maturity value of the certificates”.  In view of the aforesaid facts appeal filed by the appellant is devoid of any merits and hence we pass following order:-

                             ORDER

Appeal stands dismissed. 

No order as to costs.

Copies of the order be furnished to the parties.