cpc

interest not paid


I have Dena Super Premium Current Account in dena bank ,  as per that any balance above 2 lacs , account holder will get interest   but due some  staff error , interest has not been  paid for almost 2 years , I have approached the branch  manager  five month back , but I see little progress , in spite  of branch manager efforts . Kindly suggest what I am suppose to do , should I approach  Customer Grievances / ombudsman / consumer forum. Can I claim interest on delay interest. Kindly suggest me

 
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FIN

Get hold of the brochure of the Dena Super Premium Current Account showing its features of payment of interest and T&C attached with if any, and a statement of a/c showing no interest is paid. Before you complain confirm that you have complied to T&C and are entitled to interest.

Bank is under obligation of Bank’s Code of committement to Customers, Fair Practices Code...

Submit a carefully drafted representation in writing to BM and narrate all representations’ date wise made by you so far and raise your specific demands and request for a reply in writing say within next 7 days by redg. post only. Conclude that bank has been delaying resolution.

If BM is unable to revolve escalate to Regional/circle head/nodal officer/Chairman and demand reply in writing by redg. psot only say in next 7 days.

If bank does not resolve to your satisfaction you may move DCDRF, BO, BCSBI, IBA etc…



Attached File : 1048974652 codeofbanks aug09.pdf downloaded 43 times
 
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I agree with the views expressed by Mr. Kumar Daob in this query 

 
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Thanks , Can I claim interest on delay interest , as the intersst amount is around 2.5 to 3 lacs .

 
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FIN

If customer is entitled to interest and bank has delayed the payment despite your representations/is deficient,  you may stake a claim on interest/compensation for the delayed period. Bank may offer to compensate as per its Compensation policy.

However while you draft your representations refer to the brochure T&C, your compliance to the T&C, your entitlement, deficiency and lapse on part of the bank and raise specific demand{s} including for interest.

If you are entitled for interst that is your right and bank is under obligation to pay it.

BM and bank may be wary of or suspicious that on making of the payment of the interest you may still demand compensation.

If you have demanded interest and refund of genuine and reasonbale expenses incured on justling between authorities, making representations, phone calls, writing emails etc bank may agree. Bank may ask to give a letter that matter stands closed.

If the offer is not made, or bank declines you have a reason to move to DCDRF.

Valuable advice of learned experts/members is sought.

 
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As i have the email ID's of  nodal officer /Chairman , is email reply  is sufficent  or it  manadetry to demand reply in writing by registred post.

 
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FIN

It is your choice. You may proceed as deemed fit at your end.

Email from official email id of the Nodal Officer/Chairman should suffice.

However when you write an email using cut and paste option mention full name, designation, dept, address with pin code, email is, phone numbers, fax numbers etc.

If bank supplies an email to you and resolves your issue your purpose is solved.

However why the BM is not able to resolve the issue?

If there is a provision on interest in the a/c then BM should be able to get the interest credited to you’re a/c.

Has the BM supplied any reply or any communication to you?

Have you submitted any representation in writing under acknowledgment to BM?

 
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Advocate

If you have evidence of facility for payment of interest asentioned in your query, cause to issue a lawyer notice to the bank and if not settled prefer consumer complaint for payment of interest and also for compensation for delay and for mental agony suffered.

 
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