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Querist : Anonymous (Querist) 30 January 2012 This query is : Resolved
As per RBI rules all banks has to pay Rs.100/- per day compensation to their customers if there is delay in refund.

First this period was 12 working days and now it is 7 working days.

Though this is a mandatory instruction from RBI, many banks avoid payment due to lack of knowledge of this rule by the customers.

RTI replies from two PSU banks from south have reviled that both banks have not made this payment to their customers in many cases and the amount involved is in many millions.

In one way this is a cheating to the customers and in other words they are not following the RBI rules.

How can I force these PSU Banks to make the avoided payment to their customers?
I am looking following problems in this process:

1.) If I complain to RBI with a proof of RTI reply they can take unlimited time and say “enquiry” is going on. They will just site-over the issue and do nothing.

2.) If I complaint to Consumer Committee of the Bank, it is their Bank and have to guard Bank interest and their report will be “We did not find any merit in the case and hence the complaint is closed” For this also they can take years as in our country we have no time limit to these problems.

3.) If I want to file a PIL the first is cost. Second is time. Since I have to use all available resources before approaching HC or SC “the enquiry is in process” will not admit the case.

4.) There is one more Bank who is changing the RTI information according thir convenience at the time of first appeal or CIC orders.

The only chance is to get a correct section from Bank Act and P&SS Act and ask RBI to revoke banking license as these Banks have bettered the principle of faith and goodwill of the trade and hence they are not competent to run banking business.

There are 28 PSU Banks and almost same number of private and co-op. banks and all must be doing this cheating. I want solution on this subject from the experts.

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adv. rajeev ( rajoo ) (Expert) 30 January 2012
delay in refunding the amount is negligence in providing better service. So issue notice to the bank and file a consumer complaint. You can also get the compensation as directed by RBI

B.B.R.Goud. (Expert) 30 January 2012
hai. u need to approach the ombudsmen for banking disputes.

Raj Kumar Makkad (Expert) 30 January 2012
Banking ombudsman is the only authority to pay heed towards your grievances.

Devajyoti Barman (Expert) 30 January 2012
yes I agree...

Querist : Anonymous (Querist) 31 January 2012
This is a third party money which is due to them from Bank. It is general Public money and we do not know to whom it belongs.
It is not the grievance of the poster to approach BO!

The money which belongs to you how BO will entertain some third party claiming to do payment to some unknown party who have not claimed.

I thing our experts have misunderstood the problem. It is clearly stated that this information is obtained through RTI. Section 8 of RTI prohibits disclosure of names and hence no details of the owners of this money are known.

Now the question is can Advocate Rajeev file a complaint under consumer protection act on a XYZ bank as through RTI it is found that Bank have not made payment under RBI rule and hence give me compensation for bad service? Will this be tenable in any court of Law? What is the jurisdiction? In which place he has to file this case? Since the amount involved is in millions which forum?

I thing experts have not read the posting of anonymous in details. This appears to be a very serious problem.

Sailesh Kumar Shah (Expert) 31 January 2012
then file PIL to get direction to the rbi, but before filing pil, make detailed representation about issue.

prabhakar singh (Expert) 01 February 2012
yes I agree.

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