Central Bank Of India — Value Date for creating a fixed deposit receipt

Address:

Mumbai City, Maharashtra, 400004

I am a customer of your bank. My savings a/c is [protected] and deposited on 30.08.16 a cheque to be sent for clearing for Rs.600, 000/- early in the morning at 9.45 a.m. with the home branch being Girgaum Branch. The value credit for this deposit is 31st August. In the early morning on 31st august, I asked them to create a fixed deposit receipt for Rs.6.00 lacs stating that the deposit should be treated for interest as from 31st August though the balance is not clear for withdrawal on that date and therefore the deposit receipt can be handed over to me only after balance clearance. However, they have created the deposit receipt only on 1st September. This is an incorrect and against the normal banking practices and also not as per RBI stand on the subject. I am also a customer of SBI and Saraswat Bank and they start the deposit from the date it is credited for value, though they hand over the receipt only after final clearance. I shall be grateful if you will guide me, so that I can take up the matter with the Branch. Please give your verdict after properly checking the matter including the stand if any of RBI in the matter. With regards, girish ramanlal desai