As per allegation made in the complaint, case of the petitioner was that he was allured by the Punjab National Bank, respondent herein that if he would deposit Rs.15 Lacs with the respondent then the respondent would give interest at the higher rate.  Instead of opening one Account of Rs.15 Lacs, petitioner opened different Accounts in the name of his family members in which the quarterly interest shown was @ 11.75%, 11% and 10.75% respectively.  On maturity the bank did not give the interest as mentioned in the FDs on

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the ground that the petitioner had got the said interest mentioned in connivance with the Manager of the Bank; that the petitioner was not eligible to get the higher rate of interest as he did not take one F.D. of Rs.15 Lacs, instead he had taken several FDs in the name of his family members the total amount of which was Rs.15 Lacs.  Aggrieved by this, petitioner filed the complaint before the District Forum.

          District Forum allowed the complaint and directed the respondents to pay Rs.73,065/- by way of interest along with costs of Rs.1000/-.

          Respondents being aggrieved filed an appeal before the State Commission which was allowed.  State Commission came to the conclusion that the petitioner was not entitled to the higher rate of interest and accordingly, the direction given by the District Forum to pay Rs.73,065/- towards interest was set aside and instead  granted a compensation of Rs.24,000/- to the petitioner towards mental and monetary loss and Rs.1,000/- as costs.

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            I agree with the view taken by the State Commission.  Petitioner was not entitled to the higher rate of interest as he had not taken one F.D. of Rs.15 Lacs.  He had taken different FDs of lesser amounts which totaled Rs.15 Lacs.  Under the Scheme, he was not entitled to the interest at the higher rate on such deposit.  Petitioner has been adequately compensated by the State Commission for the lapse on part of the respondent.  No merits.  dismissed.