IN THE CONSUMER DISPUTES REDRESSAL FORUM, ALAPPUZHA
Tuesday the 20th day of February, 2018
Filed on 19.10.2017
Present
1. Smt. Elizabeth George (President)
2. Sri. Antony Xavier (Member)
3. Smt. Jasmine. D. (Member)
In
CC/No. 282/2017
between
Complainant:- Opposite party:-
Smt. Saradamma Bhargaviamma The Manager
W/o late P.R. Bhaskara Karanavar Bank of India
Valiya Veettil, Aala P.O. Chengannur – 689 121
Aala Village, Chengannur Taluk (By Adv. P.K. Mathew)
(By Adv. Joseph George)
O R D E R
SMT. ELIZABETH GEORGE (PRESIDENT)
Complaint is filed for directing the opposite party to return the amount in three fixed deposits with the opposite party which matured on 14.06.2017. Opposite party filed version stating that since the bank did not get any authority to do anything else from the depositors, they renewed the deposit. Complainant produced a Circular of Reserve Bank of India. As per the Circular “if fixed/term deposit accounts are opened with operating instructions, ‘Either or Survivor’, the signatures of both depositors need not be obtained payment of the amount of the deposits on maturity.” Hence the opposite party is bound to return the fixed deposit amount to the complainant. They cannot insist the signature of both parties.
In the result complaint is allowed. Opposite party is directed to return the three fixed deposit amount to the complainant subject to the production of F.D. receipts.
Pronounced in open Forum on this the 20th day of February, 2018.
Sd/- Smt. Elizabeth George (President)
Sd/- Sri. Antony Xavier (Member)
Sd/- Smt. Jasmine. D. (Member)
// True Copy //
By Order
Senior Superintendent
To
Complainant/Opposite parties/S.F
Typed by:- Br/-
Compared by:-
