Punjab National Bank — Money transferred to incorrect PPF account.

Address:

Pune, Maharashtra

I had submitted a standing instruction in August 2014 to PNB Kothrud, Pune branch, to transfer INR 5000 from my savings account in the same bank to the PPF account opened in the same branch. In Jan 2015, I visited the branch to get a PPF account statement to be submitted in my organisation for tax purposes. After requesting them I found out that my PPF account balance had not increased and no money was transferred to it. Due to this, I had to bear heavy IT, since I had give PPF amount as INR60000 in investments declaration and had nothing to show for it while submission. For the time being, I requested them to place a new standing instruction to deduct INR 5000 monthly and transfer to my PPF account. From the next month, this amount was being deducted twice from my account. After further deep analysis, we found out that INR 5000 was being transferred to a wrong PPF account monthly since Aug 2014. Now, they are rectifying the whole amount, however, now they are transferring it to my PPF account. I requested them to do it in my savings account since transferring it in my PPF account is of no use to me right now and I have already paid heavy IT due to this catastrophe by PNB. Transferring them to my PPF account is going to be useless to me right now. PNB is denying that they can't do anything and are also not ready to bear all the losses incurred upon me. Please help me in relieving my losses from PNB's huge error, why should the customer bear the loss for PNB's mistake?