[Resolved] IDBI Flexi Bond (Deep Discount) '96 — HOPES OF LONG TERM SAVINGS DESTROYED
Years ago, in March 1996, with a lot of effort (inspite of extremely trying times) I gawardsthered and deposited / invested Rs.10, 600/- in two Deep Discount Bonds from IDBI '96 for Rs.5300/- each, which had a 25 years maturity value of Rs.2 Lakhs each. These Bonds were purchased in the names of my daughter, then 11 years old, and my son (then 3 years old).
These bonds were kept by me in a locker and since these were for long-term, my wife and I chose to just forget about the investment for the time being. A week ago, when I checked the locker and found the Bonds, I was dismayed to learn through the internet, that these Bonds ere recalled by IDBI way back in 2001.
As a middle-class parent, it was our expectation to be able to provide our children with a reasonable sum of money by the time they would attain sufficient maturity.
Request you to please let me know what, as agrieved parents, we could do now to ensure that the expected returns are provided to my children by the due time.
Looking forward to hear from you at the earliest.
email : [protected]@india.com / [protected]@gmail.com
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Aug 14, 2020Complaint marked as Resolved