Premature f.d.
b kumar chsndrs
(Querist) 14 October 2016
This query is : Resolved
 sir,
         This is to inform youn we
Had opend a Fixed deposit account no xxxxxx on
22/9/2012 with 9% P.A.for 60 month (Rsxx000/)(xxlakh d _)Â in your bank Krishnagar branch (Â 0215Â )Â IFSC code
Xxxxxxxx ANDÂ MICR 144027027 . We have a saving pass book A/C No-
Yyyyyuuuu on 21/03/2016. I went to the A.T.M. to get the interes. But interest date was 22/9/16 .I get some mony from A.T.M.
Our pass has showed some thing wrong ( sweep/ rev sweep adj close
E.T.C. ) fom AC no  xxxxxxxx. This is . we
in formed the Bank on 22/9 but but they didnot help us. farther we
informed the bank by written on 27/9/16Â Â My mother also aged patient
this int. help us for medicine cost .Can bank closed and premature without my consern for saving account negative balance
     Please advice me
.
adv.bharat @ PUNE
(Expert) 14 October 2016
Bkumar bank had no such right to do it without your consent you can make complaint of it to RBI vigilance and gave copy of same to your Bank Head office.
Your problem may be solved.
If u appreciate my answer then will u give THANK on my LCI profile?
P. Venu
(Expert) 14 October 2016
You may bring matters to the notice of the Banking Ombudsman as well.
Kumar Doab
(Expert) 14 October 2016
The bank has a right to set off and lien.
You have done good by writing.
Hope you have POD.
Visit the bank and settle the matter.
Rajendra K Goyal
(Expert) 14 October 2016
Unable to understand?
Whether some money was debited by said account through sweep and again credited through reverse sweep?
Whether any money was debited from your account as a result of these transaction taken as a whole, if so how much?
It seems, some money was wrongly debited from your account and credited again.
When you received money from ATM, whether account was having balance?
Please redraft your query.
Kumar Doab
(Expert) 14 October 2016
Pls respond to the points raised by Expert Mr. Rajendra K Goyal.
Rajendra K Goyal
(Expert) 14 October 2016
There is one more possibility, when you withdraw money through ATM, account was not having enough balance as interest was not credited, it broke automatically the FD, and again formed after adjustment. Please confirm whether facility of auto sweep of extra balance to FD account exist in your account to give you benefit of increased interest rate through auto sweep to FD a/c or not.
H.M.Patnaik
(Expert) 14 October 2016
As I gather from your post, Int. on F.D. is credited to your S.B.A/c on half yrly. basis.
If this is the system, first get the relevant Passbook updated. Now, your question on 21.03.16 while withdrawing cash from S.B. a/c , your pass book showed some entry reg. pre- closure of F.D. a/c even though interest was scheduled to be credited to your S.B. a/c on 22.09.16(Second half yrly date).Now, the banker is not clarifying the reason behind pre- closure of F.D. a/c.
If I am right in understanding your query,
as suggested by experts above, you have to lodge a complaint in writing with immediate higher authority in the bank, i.e. you can approach the Regional / Zonal manager of the bank and if still your grievance is not resolved within reasonable period say a fortnight or a month, you can take up the matter with the Ombudsman of the particular bank. The contact address,e-mail id etc. of these authorities can be easily traced from bank's website.
Kumar Doab
(Expert) 14 October 2016
Experts have given appropriate suggestions.
Author may respond.
b kumar chsndrs
(Querist) 15 October 2016
Mr rajendrKumar sir when I widwal rs2000 then the savung account is-1000 then the bank wrongly closed my FD and adjusted rs 1000 and premature FD Taken .PANALTY MONY
Kumar Doab
(Expert) 15 October 2016
Request the BM to reply to your letter in writing.
Rajendra K Goyal
(Expert) 16 October 2016
The account was overdrawn, Bank was entitled to recover the money / adjust through other account under right to set off..
b kumar chsndrs
(Querist) 16 October 2016
Bhrat sir can bank alwas entitled to recover the money / adjust through other FD account without my consern. Without my permission. What is mean my FD certificate or hardcopy
Rajendra K Goyal
(Expert) 16 October 2016
You have withdrawn more than the balance in the account.
Bank has legal right for right to set off to adjust overdrawn account from available balance in other accounts with the Bank / branch.
Dr J C Vashista
(Expert) 16 October 2016
Contact branch manager with all details. The query do not disclose interpretation of law to be advised by experts on this platform.
H.M.Patnaik
(Expert) 17 October 2016
Mr. B. Kumar,
you have mentioned that there was overdrawal in your S.B.A/c . As all banks are operating on online mode be it ATM withdrawal or otherwise ,unless you have signed up a mandate form reg. sweeping in facility, in no case ,the bank can allow overdrawal in a S.B. account. Pl. recollect or verify with the bank, whether any instruction on above line was given to the bank.If otherwise , the bank is at fault if closure of F.D. was effected without any written notice.
Rajendra K Goyal
(Expert) 17 October 2016
There is no need of separate mandate for right of set of by the Bank, it is legal, as per law.
Though ATM withdrawal is online, yet when ATM of some other Bank is used or otherwise sometime, cash is dispensed rather to refuse the the attempt and account is overdrawn after withdrawal, in such situation if the account holder does not adjust the account, Banker exercise right of set off, which is legal step.
Kumar Doab
(Expert) 17 October 2016
Check the mandate signed by a/c holder for S/B a/c and FDR a/c's.
b kumar chsndrs
(Querist) 17 October 2016
Rajendra Sir the bank does not in from about it.it was happens without informed
Rajendra K Goyal
(Expert) 17 October 2016
You withdrawn the excess amount, legally Bank has right of set of, which it exercised.
If Bank inform, other party would immediate withdraw the amount and recovery would be impossible in most of cases.
Bank should inform after recovering.
You have not informed after how much days of overdraft Bank recovered the amount. It is possible Bank allowed you some time to pay back which you did not.
