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D ROY   21 March 2020

Sub: non settlement of inherited (e or s) rip certificates

I like to inform here that some inherited Reinvestment Plan Certificates, made on 2004, of which father is 1st holder ( expired in 2005), 2nd holder is myself and third holder is my mother (alive) who is  bedridden . I am only child of my parents. I wrote a letter on 14/02/2020,  to my concerned branch manager enclosing those original RIP certificates and father's death certificate, for depositing  prescribed maturity amounts as in 2009, in my Saving Bank Account. For delay in case, I wrote a letter to GM(Operation & Service) for early settlement. Then he forward the case to Chief Manager(Customer Service), on 29/02/2020 who wrote a letter that your case has been taken up for early redressal. After that I further wrote to Branch Manager on 07/03/2020 along with email copy to that GM(OP & S),but no reply. Then , further I sent email letter  to GM(OP & S), with copy to bank Ombudsman/RBI, on 19/03/2020, where I claim , to give additional interest benefit from 2009 (Maturity year) to till settlement date. Yet no reply is received.

Now I asking a guideline from group of lawyers that

1) Whether I am eligible to get that additional interest benefit from 2009 (Maturity year) to till settlement date of of those RIP certificates. If yes, then what will be the rate of interest.

2) Now what I am to do for having no reply from concerned authority of the Bank till now.

Please guide me



Learning

 18 Replies

manohar   21 March 2020

Yes. You are eligible to get simple contractual rate of interest in force till the date of settlement.

manohar   21 March 2020

2. file petition in consumer court for compensation due to mental agony with cost.

D ROY   22 March 2020

I know contractual rate but I do not know simple contractual rate. If you clarify , I shall be highly obliged.

D ROY   22 March 2020

How can I get name , address and phone no. of lawyers who are practicing in Kolkata Consumer Forum. If you help in this regard , I shall be obliged.

G.L.N. Prasad (Retired employee.)     22 March 2020

The best remedy is searching DBOD, RBI directives and downloading the PDF format of such RBI directive applicable to all commercial banks in India.  The other short cut is asking a friend or relative from different stations seeking information under RTI Act for your issue.

information solicited:

1. Please provide me the Copy of laid down norms/RBI directive/circular that state the claims settlement policy and payment of interest for the delayed period after the due date, when the claim in the joint account was still not settled.

Do not spend a single rupee for the present.   First, contact either RBI or any bank and get a copy of such a directive.  Then issue a simple notice to Bank stating that the claim was filed on..............and a reminder was given and that depositors are being harassed without settling the claim and not paying interest etc..  After 45 days you can file a consumer complaint.

First issuing the mandatory notice can bring the stand of the bank on record.  There may be thousands of retired bank officials that can assist you voluntarily at Kolkata.

You can find the circulars through google also.  Make sincere attempt for a day

G.L.N. Prasad (Retired employee.)     22 March 2020

Also please file RTI Application and seek certified copies of all documents.

Application dt.23rd Mar 2020 seeking information under RTI Act.

Before: C.P.I.O,......................Bank,......................

Fee: Postal order for Rs.10/- fvg............Bank payable at Kolkata.

Applicant:

 

Subject matter on which information is sought: Claim settlement Reinvestment deposit No.......................dt...............standing in the name of 1.............2............3.............

1. Please provide me certified copies of opening forms of the above.

2. Please provide me claim forms and all documents provided to the bank for transferring the amount to one of the depositor's savings account after joint discharge by the living depositors.

3. Please provide me the reasons for the inordinate delay in crediting the amount.

4. Please inform the present status.

 

Applicant.

1 Like

D ROY   22 March 2020

I am very please to have answer from Mr. G.L.N. Prasad, retired employee. I shall follow your instruction. If I feel any difficulty to process the RTI , I will take your advice latter on. Please provide me now RTI on line site wherefrom I can make RTI for "UBI bank/Kolkata" case.

T. Kalaiselvan, Advocate (Advocate)     22 March 2020

You are eligible for interest at the prevailing rate for the delay in settlement of your maturity proceeds from the date of maturity till the date of settlement.

If you dont get any reply from banking ombudsman then you can move the consumer court against the bank for relief and remedy.

 

G.L.N. Prasad (Retired employee.)     22 March 2020

As all Public sector banks are under the Ministry of Finance, Central Government, you can file an online application.  You can also file RTI Application and give it personally to the branch under the acknowledgment.  Every Branch Manager acts as Asst. Central Public Information officer and he should accept fees of Rs10, accept original  RTI Application and also provide acknowledgment on your copy for having received the original.  

G.L.N. Prasad (Retired employee.)     22 March 2020

As all Public sector banks are under the Ministry of Finance, Central Government, you can file an online application.  You can also file RTI Application and give it personally to the branch under the acknowledgment.  Every Branch Manager acts as Asst. Central Public Information officer and he should accept fees of Rs10, accept original  RTI Application and also provide acknowledgment on your copy for having received the original.  

D ROY   22 March 2020

I am very happy to have your reply.

D ROY   22 March 2020

Mr. G.N.L. Prasad,

Sir,

1) Whether I will mention detailed particulars of RIP certificates, in RTI application or not. 2) Whether xerox copy of the certificates are to be enclosed in RTI application or not.

Please guide me.

G.L.N. Prasad (Retired employee.)     22 March 2020

You have to mention the date on which such certificates were handed over  and if possible mention the name of the officer with prescribed claim forms and also seek a certified copy of such forms (EX: Claim forms handed over to Mr.XYZ on 10-10-2019 at .40 a.m.)

No certificates needed for enclosing with RTI.  As certificates were handed, it is their responsibility to record such receipt of documents in INWARD REGISTER with inward date stamp and number.  Except for Postal order, you need not enclose anything and if you can visit the branch you can pay Rs.10/- in cash and enclose counterfoil or mention receipt no on RTI Application.

Whenever you visit the branch, please note down the date, their response and the name of the official with whom you have spoken to in a separate book right in their presence, and observe whether CCTV footage is available in that branch.

D ROY   03 July 2020

Mr. G.L.N. Prasad,

Sir,

Your advice is valuable to me. So, I contact you every time. You have advice me for RTI on this article. But before going to RTI, I tried my best to solve the matter locally. By this time, I contact head office of the bank located in Kolkata. There,  one officer has assured me that he has contacted Branch Manager/ bank, to solve the matter. After getting assurance, I return back and wait for possitive reply from bank. But one day, Branch Manager, of the concerned bank who has received my all original inherited RIP certificates, against a receipt on my application letter, inform me by a letter to submit KYC of deceased father (who is 1st holder). In this regard, I like to say that myself is second holder and my mother is 3rd holder of those certificates. I am only children of my parents . As my mother is very aged and suffering from glaucoma in both eye, so application for  closing of the RIP accounts was made by me. Here, most probably , bank manager, is doubting for single name claim application, so far my concern . Here I like to say that I am holding SB account , with same bank branch and it has been mentioned in my 1st claim written application. Not only this, net banking is showing those RIP (now TDS) certificates only against my name with new account numbers which are not matching with old account nos. of RIP certificates. But opening amount, opening date and mature date are same which are showing in net banking against my name. Secondly my mother is holding SB account with that bank branch.

By this time, after happening of the above fact, and non-reply of the bank after expiry of four months from my 1st claim application, I complained the matter before Bank Ombudsman of RBI/Kolkata through online, at the end of the 2nd week of June,2020. But till now, the status of the complaint is showing as it is. Now the question is –

  1. Whether I shall write to BO/RBI through e-mail, regarding matter of KYC of deceased person mentioning complaint number and for obtaining the necessary order regarding matter of KYC of deceased person.
  2. Is it mandatory or not to submit KYC at bank, in this regard . Pl. advice what I am to do.
  3. Now what I am to do regarding non compliance of the complaint before Bank Ombudsman/RBI/Kolkata.

 

I am waiting for your advice please.


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