Delay of 74 days in filing the Revision Petition is condoned.

            By the impugned order, the District Forum as well as the State Commission have awarded interest at the rate of 9% per annum on the excess amount deposited in the Public Provident Fund (PPF).  Under the rules, the petitioner could deposit only Rs.60,000/- per year whereas the respondent had deposited the sum of Rs.1,25,000/- in 1993-94, Rs.2,10,000/- in the year 1996-97 and Rs.1,60,000/- in the year 1997-98.  State Commission has observed in its order that the discrepancy came to the notice of the petitioner in view of the audit objections taken by the RBI.  Counsel for the petitioner relies upon a judgement of this Commission in State Bank of Saurashtra vs. Chandrakant Muljibhai Shah in R.Ps. No.2057 and 2334/2008 dated 18.12.2008 reported in AIR 2009 NOC 1793 (NC) in which it has been held that any amount deposited in excess of the amount of Rs.60,000/- in a financial year, has to be treated as irregular subscription and no interest was payable on such amount.  That the complainant could not demand interest on the amount deposited above the ceiling limit of Rs.60,000/- merely on the ground of ‘Ignorance of La                                                       w’; that there was no deficiency on the part of the Bank in accepting the deposit beyond Rs.60,000/-.

            In view of the aforesaid judgement, the order of the fora below which run counter to the said judgment, are liable to be set aside.

            Accordingly, impugned orders are set aside and the complaint is ordered to be dismissed.