[Resolved]  Banking RTGS transfer of money — Unfair rejection of remittance

Kindly peruse the following in connection with a RTGS lapse affecting my interest.

1) Account details;-- ICICI bank ,Besantnagar, chennai 41 S.B.accont[protected]
Operated by V.sundararajan,s.sukanya, kalpagam,
on A or S basis.

2) EVENT 1 :-------- A sum of Rs 3.5 lakhs was sent on 16-7-09 by RTGS on through
The state bank of ysore, Thiruvanmiyur, Branch,Chennai, the
beneficiary being the FIRST mentioned V.sundararajan.
3) Event 2 ------- ICICI refuses to accept the credit, and returns the amount to sender.

4) Event 3 ------- S B I Mysore informs me by emailon 20-7-09 as follows

"We have sent the RTGS on 16.07.2009 to Your ICICI Bank , Besant Nagar, A/c.No.[protected] with the beneficiary name as V.Sundararajan(With UTR no.SBMYH[protected]) and the same was returned back to us with the reason that the beneficiary's name differs. Kindly advise us the correct beneficiary name and also the correct account number and quote your telephone no. so that we will be to contact you over phone in case of any discrepancy. "


5) Event[protected]I sent a report to to CEO,ICICI on this in my letter dated 30-08-09.

6) Event[protected] ICICI replies in their letter dated 20-10-09 as follows.

" we wish to clarify that as you have a joint account with the bank,in the
RTGS transaction the beneficiary name was mentioned as V.Sundararajan only. Hence the
funds were returned on the same day"


It is strange that while the banks permit the constituents to sign cheques
independently and honor them when presented and also accepts cheque in favor
of the constituents for clearance, in the case of RTGS remittance alone it
insists that all the account holders should be mentioned as beneficiaries.

Due to this narrow interpretation of the bank, I could not use my own money, for the treatment of my 80% disabled son in a serious condition.I had to run from pillar to post to raise funds for the treatment,involving considerable mental agony and strain at this advanced age of 73.
can any one of the authorities interested in consumer welfare ,please clarify whether the instructions of RBI envisages the mention of all names of account holders in case of RTGS as it appears in the records of the bank?

Yours sincerely,

V.sundararajan