Delhi

East Delhi

CC/203/2021

MS. SHAKUNTLA SHARMA (SR. CITIZEN) - Complainant(s)

Versus

THE VAISH COOPERATIVE NEW BANK LTD, - Opp.Party(s)

24 Feb 2023

ORDER

DISTRICT CONSUMER DISPUTES REDRESSAL COMMISSION (EAST)

GOVT. OF NCT OF DELHI

CONVENIENT SHOPPING CENTRE, FIRST FLOOR,

SAINI ENCLAVE, DELHI – 110 092

 

C.C. NO. 203/2021

 

	Shakuntla Sharma A-4/32, Indraprastha Extention, Delhi-92	….Complainant
Versus
	Vaish Cooperative New Bank Ltd, Through Branch Manager, Patpargunj Branch DDA Market Indraprastha Extn Delhi-110092.	……OP

                                                         

 

Date of Institution: 18.10.2021

Judgement Reserved on: 24.02.2023

Judgement Passed on: 24.02.2023

                  

QUORUM:

Sh. S.S. Malhotra (President)

Sh. Ravi Kumar (Member)

Ms. Rashmi Bansal (Member)

 

Order By: Mr Ravi Kumar, Member

 

JUDGEMENT

1. The Complainant in her complaint has alleged deficiency of service on the part of OP Bank by not making FDR despite of tendering of cheque of Rs.40,000/- for the said purpose. 
2. In her complaint the Complainant has stated that she is having her joint Savings Bank Account No.2833 with the OP.  She had tendered Cheque No.791802 on 01.10.2020 for Rs.40,000/- for the purpose of making FDR with 7% interest for a period of one year.  The said cheque was duly accepted at the counter of the OP Bank with the promise to deliver the Term Deposit Receipt (FDR) during the course of the day.  However, the OP Bank neither issued the FDR nor returned the said cheque despite of various visits to the Branch and even making complaint to their Head Office. She has filed copy of Specimen Signature Card, copy of her Account Opening Form, copy of cheque no. 791802 and Bank acknowledgement of having received the cheque.
3. The Complainant has prayed for directions to the OP to pay penal interest @ 24% on the amount of Rs.40000/- from 01.10.2020 and to issue FDR.  Compensation of Rs.2,00,000/- for mental torture and harassment and Rs.25,000/- as legal expenses. 
4. OP was served on 03.02.2022, however they have not filed their Reply and their right to file Reply was closed on 21.04.2022.
5. Complainant has filed her Evidence by way of Affidavit.
6. The Complainant has also filed a statement with regard to query of this Commission regarding rate of interest and it was informed that the rate of interest on Savings Bank Account is 3% and on fixed deposit for Senior Citizen is 6 to 7% and the Cheque no. 791802 dated 01.10.2020 for Rs.40000/- is with the Bank.

Ld. Counsel of the Complainant also clarified in writing that ‘As per record and the said deposit in the Bank, this paper is related to the said cheque no. 791802’ which document bears the stamp of the OP Bank.

7. This commission has gone through the documents on record and heard the arguments of the Complainant.  No arguments were put forth by the OP. 
8. The case of the Complainant is that she is an account holder in the Joint Savings Bank Account no. 2833 with the OP Bank and she had tendered cheque number 791802 dated 01.10.2020 for Rs.40,000/- to the OP Bank for debiting her account and making FDR with the prevailing rate of interest which is always more than the Savings Bank Account rate of interest.  Any Bank Account Holder if he or she is having surplus amount in his/her account then he/she would like to keep this surplus amount in the form of FDR which gives more rate of interest. Complainant has stated that she made request to OP for keeping surplus amount of Rs.40,000/- by tendering cheque number 791802 in the Form of  FDR for one year with the expected rate of interest 7%, she being a Senior Citizen. Complainant has also produced the acknowledgement of the OP Bank and also submitted that ‘As per record and the said deposit in the Bank, this paper is related to the said cheque no. 791802’ which document bears the stamp of the OP Bank.
9. As OP has not appeared and contested the case, the contention raised by the Complainant goes unrebutted.
10. From the evidence available on record it is evident that the cheque number 791802 of Rs.40000/- was in fact received by the OP Bank on 04.10.2020 and as per the mandate of the account holder the OP Bank should have made FDR which fetched more rate of interest than the Savings Bank Account and this was the intention also of the Complainant while tendering her cheque no. 791802 to enjoy better rate of interest as against the Savings Bank Account rate of interest.  It is not disputed that the amount of the Complainant remained in her Savings Bank Account and the only loss which Complainant suffered was w.r.t. higher rate of interest than that of the interest payable on Savings Bank Account and the difference is stated to be 4% over and above Saving Bank rate of interest and accordingly this Commission holds OP liable for deficiency of service and orders as follows:

 

• OP to pay interest 4% over and above the Savings Banks rate of interest given to the Complainant on an amount of Rs.40000/- from 05.10.2020 for a period of one year and OP shall also pay Rs.2,500/-/- towards mental harassment and Rs.1,000/- towards legal expenses. 
• This order be complied with within 30 days from the date of receipt of the order failing which the OP shall pay the amount @ 7% over and above savings bank rate of interest on Rs.40000/- w.e.f. 05.10.2020 for a period of one year besides paying Rs.2,500/- towards mental harassment and Rs.1,000/- towards legal expenses. 
• opy of the order be supplied / sent to the parties free of cost as per rules. 

File be consigned to Record Room.