Date of Filing: 20-08-2015 Date of Final Order: 14-12-2015
The brief facts of the present case, as culled out from the record is that the Complainant, Smt. Anima Paul is an Savings Bank Account holder bearing No.08280100009812 of the O.P bank i.e. Uco Bank, Cooch Behar Branch got her maturity amount of Kuber Yojana Deposit Scheme of Rs.81,698/- instead of Rs.83,390/- (i.e. the deduction amount of Rs.1,692/-) which was credited to the said account on 04/05/2015. Thereafter the Complainant went to the Branch Manager of the O.P bank to solve the said matter but the Complainant did not get any satisfactory response. After that the Complainant also sent a letter by registry post with A/D on 17/07/2015 to the O.P bank regarding her shortfall amount of Rs.1,692/- but she did not get any reply from the O.P bank. Then the Complainant lodged a complaint to the office of the Consumer Affairs & Fair Business Practices, Cooch Behar through online on 19/07/2015. There the O.P bank assured to the Complainant that they will give due amount of Rs.1,692/- within short time. But thereafter the O.P bank did not pay any heed.
Finding no other alternative, the Complainant filed the instant case before the Forum praying for issuing a direction upon the O.P bank to pay Rs.2,232/- as compensation including due amount of Rs.1,692/-, besides other relief(s) as the Forum deem fit, as per law & equity.
The O.P, Uco Bank, Cooch Behar Branch has contested the case denying all material allegation of the complaint contending inter-alia that the case is not maintainable and the Complainant has no cause of action to bring the case.
The main contention of the O.P is that the Complainant has come to the O.P bank on 04/05/2015 and prayed for liquidation of her Kuber Yojana Fixed Deposit before maturity date and according to the Bank’s circular if the customer liquidated her fixed deposit before maturity, the customer will not get the original matured amount and she will get only after deduction of penal interest. Accordingly, the O.P bank has liquidated the Complainant’s fixed deposit before maturity and the O.P bank has given Rs.81,698/- after deduction of penal interest amounting to Rs.1,692/-. Therefore, the Complainant could not claim for returning back of amount of Rs.1,692/- from the O.P, Uco Bank, Cooch Behar Branch. The O.P also stated in their W/V that there was no deficiency in service & unfair trade practice.
By putting all these, this answering O.P prayed for dismissal of the case with sufficient costs.
In the light of the contention of the complainant, the following points necessarily came up for consideration.
POINTS FOR CONSIDERATION
- Is the Complainant a Consumer as per Section 2(1)(d)(ii) of the C.P. Act, 1986?
- Has this Forum jurisdiction to entertain the instant complaint?
- Has the O.P any deficiency in service as alleged by the Complainant and are they liable in any way?
- Whether the Complainant is entitled to get relief/reliefs as prayed for?
DECISION WITH REASONS
We have gone through the record very carefully, perused the entire documents in the record also heard the argument by the parties at a length.
Point No.1.
Evidently, the Complainant deposited Rs.69,656/- on 06/05/2013 to the O.P bank under Kuber Yojana Deposit Scheme.
So, the Complainant is a consumer U/S 2(1)(d)(ii) of the C.P. Act, 1986.
Point No.2.
The branch office of the O.P, Uco Bank is situated within jurisdiction of the Forum and the complaint value is Rs.2,232/-, which is far less than Rs.20,00,000/- i.e. maximum pecuniary limit of the Forum.
So, this Forum has pecuniary and territorial jurisdiction to try this case.
Point No.3 & 4.
The Complainant, Smt. Anima Paul stated in her complaint and evidence that she is an Savings Bank Account holder bearing No.08280100009812 of the O.P bank i.e. Uco Bank, Cooch Behar Branch got her maturity amount of Kuber Yojana Deposit Scheme of Rs.81,698/- instead of Rs.83,390/- (i.e. the deduction amount of Rs.1,692/-) which was credited to the said account on 04/05/2015.
Copy of the deposit receipt of Kuber Yojana Deposit Scheme dated 06/05/2009 shows that on the said date the Complainant deposited Rs.50,000/- as Fixed Deposit for 24 months and matured value of the same was Rs.58,871/- and maturity date would be 06/05/2011.
Particulars of renewal shows that Rs.58,871/- was reinvested again on 06/05/2011 for 24 months and matured value of the same would be Rs.69,656/- and maturity date would be 06/05/2013.
It further appears that the said Rs.69,656/- was again reinvested on 06/05/2013 for another 24 months and matured value of the same would be Rs.83,390/- and maturity date would be 06/05/2015.
It is the main contention of the Complainant that she was entitled to get of Rs.83,390/- but Rs.81,698/- was credited in her Savings Bank Account on 04/05/2015 and ultimately, she has got less of Rs.1,692/- as interest.
It is the further case of the Complainant that she informed the matter to the O.P bank through registered post with A/D. Carbon copy of the latter dated 17/07/2015 Postal Registration Slip and A/D show that said letter was duly served upon the O.P bank and the Complainant by sending letter, requested the O.P to make payment of shortfall amount of Rs.1,692/-.
It is the further case of the Complainant that though the O.P assured that they will pay the said Rs.1,692/- shortly but in vain.
On the other hand it is the case of the O.P bank that on 04/05/2015 the Complainant has came to the O.P bank and prayed for liquidation of her Kuber Yojana Fixed Deposit before maturity date and according to the Bank’s circular if the customer liquidated her fixed deposit before maturity, the customer will not get the original matured amount and she will get only after deduction of penal interest. Accordingly, the O.P bank has liquidated the Complainant’s fixed deposit before maturity and the O.P bank has given Rs.81,698/- after deduction of penal interest amounting to Rs.1,692/-. Therefore, the Complainant could not claim for returning back of amount of Rs.1,692/- from the O.P, Uco Bank, Cooch Behar Branch.
During hearing of argument, the Ld. Agent/Adv. of the O.P bank drew by attention to circular regarding premature closure of Term Deposit dated 20/02/2010, which reveals that in case of deposit of less than Rs.15 lacs, the depositor will get 1% less than the applicable rate for which the deposit was hold by the bank as on the date of deposit or present date whichever is law.
We find that in the present case, the Complainant was entitled to get interest of Rs.13,734/- and 1% of the same is Rs.1,373.40/- but the O.P bank deducted Rs.1,692/- as penal interest, which was not proper.
It is the specific case of the O.P bank that as the Complainant prayed for liquidation of the said Fixed Deposit before maturity, so as a penalty 1% was interest was deducted from her account.
It appears from the copy of the Fixed Deposit Certificate in question that there is note that “Closed account and credited amount to SB A/c No.103943000318” but words “credited amount to SB A/c No.08280100009812” has been pen through by someone. Signature of the Complainant, Anima Paul appears by the side of said note. Said not has not been written by Smt. Paul and date of “04/05/2015” was put by someone.
It appears from the Complaint and evidence that the Complainant went to the O.P. bank to encash the Fixed Deposit on 04/05/2015. During argument, the Complainant submitted that she was in impression that date of maturity was 04/05/2015 and not on 06/05/2015 and she had no such intention and need of money to liquidate Fixed Deposit amount just before 2 days of maturity, where as she waited for 728 days. She further claimed that she had not filed any application for premature liquidation of her Fixed Deposit.
We find that certainly the O.P bank has failed to file any copy of the application to show that she prayed for premature liquidation of Fixed Deposit.
We further find that note finds place on the reverse side of the Fixed Deposit Certificate shows that there is just note “closed account”. There is no such note of any premature liquidation and we find material in the submission of the Complainant.
More so, we think if it is assumed that the Complainant prayed for premature liquidation of her Fixed Deposit just before 2 days after waiting for 728 days, the O.P bank being Public Sector Bank should have advised the Complainant to wait for another 2 days to get full interest.
We further find that in ruling reported in 2014 (2) CPR 404 (NC) Hon’ble National Commission after confirming the contention of judgement of State Commission pleased to hold that Banking system is based on trust and faith. The Banks act as custodian of public money and they are accountable. They have acted in an irresponsible and negligent manner. The O.P is a Public Sector nationalized Bank performing public duties and they should function fairly. If not, it will definitely erode the image of the Bank and demolish the confidence of the public in the banking system, which is not good for banking institutions and general public.
Considering an overall matter into consideration and materials on record, we think that act of the O.P bank is nothing but unfair trade practice and deficiency in service and the O.P bank is liable to pay the said wrongly deducted amount of Rs.1,692/- to the Complainant.
In the present case, the Complainant has not claimed any amount as compensation for deficiency in service. Rather she claimed Rs.30/- as Registration charge, Rs.110/- for Non-judicial Stamp and Typing charge, Rs.100/- as postal order, Rs.100/- as Xerox charge and Rs.200/- as conveyance charge, totaling Rs.540/-. But she is not entitled to get the said charges and only can get Rs.1,692/- with 8% interest from 04/05/2015 to till realization.
Accordingly, these points are decided in favour of the Complainant.
The case succeeds in part with costs.
ORDER
Hence, it is ordered that,
The present Case No. CC/78/2015 be and the same is allowed on contest but in part with litigation costs of Rs.2,000/- against the O.P, Uco Bank, Cooch Behar Branch. The Complainant is entitled to get Rs.1,692/- with 8% interest from 04/05/2015 to till realization.
The ordered amount shall pay to the Complainant, Anima Paul within 45 days failure of which the O.P bank shall have to pay Rs.100/- for each day’s delay and the amount to be accumulated shall be deposited in the “State Consumer Welfare Fund”, West Bengal.
A plain copy of this order be made available and be supplied to the parties by hand/Registered post, free of cost with A/D.
Dictated and corrected by me.
President President
District Consumer Disputes District Consumer Disputes
Redressal Forum, Cooch Behar Redressal Forum, Cooch Behar
Member
District Consumer Disputes
Redressal Forum, Cooch Behar
