Father of the petitioner took a FDR in the sum of Rs.50,000/- on 4.3.1980. He was murdered on 25.7.1981. Date of maturity of the FDR was 11.6.1985. His father had made a will in favour of the petitioner and his brother. Dispute arose between the petitioner and his brother and, accordingly, the parties were directed to get the succession certificate. Petitioner obtained the succession certificate in his favour. On receipt of the succession certificate, the bank paid a sum of Rs.1,31,691/- to the petitioner on 27.1.2001. Alleging that the bank was supposed to pay Rs.4,71,000/- but actually paid the sum of Rs.1,31,691/- leaving a difference of Rs.3,39,419/-, petitioner filed a complaint before the District Forum. District Forum partly allowed the complaint and directed the respondents to pay interest at the rate of 9% on Rs.50,000/- from 4.3.1980 to 11.6.1985 and thereafter simple rate of interest prevalent on the date of maturity for the period 12.6.1985 to 27.1.2001 within 90 days. Rs.1,500/- were awarded by way of damages and Rs.1,000/- towards legal expenses. Petitioner, being aggrieved, filed an appeal before the State Commission, which has been dismissed by the impugned order. We agree with the view taken by the fora below. The fora below have held that the petitioner could be paid interest in terms of Rule 14(3) framed by Reserve Bank of India, which reads as under : “In the event of death of depositor before the date of maturity of the deposit and the amount claimed after the date of maturity, the bank shall pay interest at the contracted rate till the date of maturity. From the date of maturity to the date of payment the bank shall pay simple interest at the applicable rate operate on the date of maturity for the period which the deposit remained with the bank beyond the date of maturity.” Petitioner could be paid simple rate of interest after the date of maturity of the FDR in terms of Rule 14(3). We find no infirmity in the orders passed by the fora below. Dismissed.
......................JASHOK BHANPRESIDENT
......................S.K. NAIKMEMBER | | 
