Compensation for Banks Fault

Facts are not at all clear.

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I had read a news in a National News paper about SC penalising the Bank for a delay of many weeks in payment of a DD. Details not known. Currently, I bank is unable to process a DD deposited by me under pretext of technical snag . They are neither returning the instrument nor depositing the Amount since last week. I want to know the allowable time to clear the transaction from the date of presenting the instrument.

One need not depend only of SC judgment, before filing any case.  The principle is wherever there is right there must be remedy.  You are a customer/consumer.  NIA Act specifies very clearly duties of collecting bankers and there are umpteen judgments.  A simple complaint can be filed to on line Ombudsman, to concerned banker without single rupee cost.

If one wants compensation, if such loss can be proved a simple complaint can be filed before District Consumer Forum for less than Rs.500/- as party in person and taking assistance of Legal Services Authority or any consumer activist.

Just make out a complaint to the internal omdudsman of the bank concerned by giving the facts in brief. If no response then you may refer to the Banking Omdudsman of your region. Hope for the best.

With regards

P.Thangavel

 

Technical snag might be a self invented term to avoid deficiency, delinquency, compensation and seek refuge I circumstances beyond Bank’s control.

Write to bank under proper acknowledgment to explain said deficiency, technical snag with relevant attachments of relevant documents.