Show menu
Close
FAQ FAQ Categories Categories Sign in Sign in
Close
ADVERTISEMENT

[Resolved]  Indian Postal Services / P. L. I. — interest & compensation on late payment of maturity

I was holding a Postal Life Insurance Policy No: BH/774-U for an insured Amount of Rs. 60, 000/- (EA-55) on 29.11.1988 through Bachra Post Office, Dist Hazaribagh, Bihar under the jurisdiction of The Chief Postmaster General (PLI), Bihar Circle, Meghdoot Bhawan, Patna-800001. Since then, the monthly premiums were being paid regularly at different Post Offices till February 1996. Balance premiums had been paid at Junnordeo Post Office, Dist Chhindwara, M. P. including the last installment of premium which comes under the jurisdiction of MP Circle. All the papers including the original policy (duly discharged) had been submitted in the Warora Sub-Post Office, Dist. Chandrapur, Maharashtra, which comes under the jurisdiction of on 07.10.2005, i.e. 85 days before the date of maturity.
Complaint in details:
The Maturity payment of the Postal Life Insurance Policy No: BH/774-U was due to be released on 31st December 2005. All the papers including the original policy (duly discharged) had been submitted in the Warora Sub-Post Office, Dist. Chandrapur, Maharashtra on 07.10.2005, i.e. 85 days before the date of maturity, which was duly receipted by the Sub-Post Master, Warora Sub-Post Office. After so many correspondences and persuasions, ultimately Maturity payment was received from Shivjinagar Post Office, Dist. Chandrapur, Maharashtra on 02/06/2007 on the basis of the sanction order of the Dy. Divisional Manager (PLI) from the office of the Chief Post Master General, MP Circle, Dak Bhawan, Bhopal-462 012 . For this, I had to write several letters to the different offices of the Postal Department, had several telephonic talks with many of that department, also personally visited several Post Offices, and served notices from advocate.
But nobody from the Postal Department had bothered to arrange for the early payment. As a result of this, I had suffered a heavy financial loss, faced so many physical and mental harassment due to many of the Postal Department.
After getting delayed maturity payment, I had also written so many letters for getting interest and damage/compensation, but nothing has been heard from anybody of the Postal Department so far.
I request you to kindly help me for getting payment of interest and compensation against the abnormal delay in Maturity payment of the above PLI Policy No.: BH/774-U. The maturity payment has been made after 517 days of the due date. So, I should get interest for the late payment @ 2% per month on prorata basis for this abnormal delay in payment for the period from 31st December 2005 till 02.06.2007 and compensation @ 3% per month of the Matured value against physical and mental harassment caused by the Postal Department.
PRAYER:
The complainant therefore prays: -
i) Relief be granted to the complainant as demanded herein: -
I should get payment of interest @ 2% per month (flat rate) on the matured value (i.e. Rs. 1, 30, 269) from 31.12.2005 to 01.06.2007 which comes to [(2x12x1, 30, 269x365)/(365x100) = Rs. 44, 284.[protected]A) and compensation @ 3% per month on the matured value (i.e. Rs. 1, 30, 269) for the above period (517 days), which comes to[(2x12x1, 30, 269x365)/(365x100) = Rs. 66, 426.[protected]--(B). Thus the total demand from the date of Maturity (31.12.2005) till 01.06.2007 (Till the date of actual payment, 02.06.2007) comes to as (A) + (B) i.e. Rs. 44, 284.32 + Rs. 66, 426.48 = Rs. 1, 10, 710.[protected]C).
And payment of interest and compensation altogether at the flat rate of 5% per month on Rs. 1, 10, 710.80 (as C of pre-page) from 02.06.2007 to the date of actual payment.
ii) That the Clerks and Officers of the accused Office should be punished severely so that the culprits of similar kind would be afraid to indulge in such type of offensive activities.

. -Signature
Name of the Complainant: Asok Kumar Nayak
ADVERTISEMENT
Complaint marked as Resolved Aug 14, 2020
Complaint comments  12 CommentsShareTweet

Comments

i had sent this complaint earlier, but no action had been taken as yet. hope, suitable action would be taken at the earliest.

Service — interest on late payment

mr. shiv kumar

this is to inform you that that leived a late payment interest on my credit card. I always make payment on time.I have made a payment of Rs. 4, 308/-but as i had not recieved the statement i was not able to make the payment in time. why should i pay the late payment interest? when it is not my mistake.

know have received a statement dted jan 21, 09 in that statement also the interest has been charged.why is that so.

regards


sonal kulknari
Iam holding a PLI policy No. KL - 25936 - CC. I would like to know wheather I can make premium payment through Internet (online payment). If possible the proceedure may be intimated.
ADVERTISEMENT
//MOST URGENT//

I want statement from 31st JAN 2002 TO 27th Oct 2009.

NAME : P.SUBHASH,
PLICY NO: AP-171184-CS,
DOB : 16TH MAY 1952
DATE OF PROP : 31ST JAN 2002.
DATE OF DECL: 31ST JAN 2002.
DATE OF ACCEPTANCE : 01ST FEB 2002.
DATE OF MATURITY : 01ST FEB 2010.
Contact Phont NO.[protected] or [protected].
Sir,

download the policy payment particulars
Sir,

I am entred in post office insurance fund. payment particular wanted for income tax purpose
Sir, Our Indian Post Office is the largest organisation in our country. One hand the post office is saying the post office is online for each service. I have not found any facilities to pay premium online for PLI and RPLI policies. If there is any facilities being provided by the Post Office, pl let me info. Thnaks.
K R Dhayal
I have taken PLI loan Rs. 25000/- from GPO Mumbai circle, I am always being sufferred while paying repayment /interest. If I am paying some lumpsum amount to Town hall post office Fort, Mumbai. they are always confusing, how to open the PLI loan site and is it interest or repayment.

Please suggest TH Fort, Mumbai branch if we pay some lumpsum amount where they have to credit that amount.

All indian banks are changed completely with IT. But why not Postal deptt still same like 1960. Why don't you start ATM's like banks, for quick solutions, Please make thins better and easy.

A.Venkata Narayana
DCE, DIM, PGDIM, B.Tech (civ), (MBA)
Indian Nvay
Mumbai-23
Mob: [protected]
I have taken PLI loan Rs. 25000/- from GPO Mumbai circle, I am always being sufferred while paying repayment /interest. If I am paying some lumpsum amount to Town hall post office Fort, Mumbai. they are always confusing, how to open the PLI loan site and is it interest or repayment.

Please suggest TH Fort, Mumbai branch if we pay some lumpsum amount where they have to credit that amount.

All indian banks are changed completely with IT. But why not Postal deptt still same like 1960. Why don't you start ATM's like banks, for quick solutions, Please make thins better and easy.

A.Venkata Narayana
DCE, DIM, PGDIM, B.Tech (civ), (MBA)
Indian Nvay
Mumbai-23
Mob: [protected]
How I am paying the Postal Life Insurence (PLI) through online. please suggest me

Ch.H.Prasad
EG Dist.,
Kakinada, AP
my policy number is CG4413 UC, opened initially at padmanabhpur post office in chhattisgarh in 2005 september and premium is paid there upto august 2008.remaining premium is paid in INS sHIVAJI POST office lonavla pune maharashtra upto september 2010 and pass, crt are submitted there to get maturity in september 2010.Upto june 2011 no action was taken by pune circle and mumbai zone.In contrary tothis they send a letter to send documents to AP circle which has no relation with my maturity.Lastly i have sent documents to chattisgarh zone Raipur to settle the case they sent me sanctioned letter for Rs. 135000 but till now the is not send by mumbai circle for payment while more than one is passed.
MY POLICY NO.KL-43581-CS HAS MATURED ON MAY 1-2013.I HAVE GIVEN ALL THE DOCUMENTS WITH NEDUNGOLAM POST OFFICE, IN KOLLAM DIST., KERALA ON APRIL 26th.TILL JUNE 14thP OLICY AMOUNT HAS NOT BEEN GIVEN BY THE AUTHORITIES, IE (HEAD POST OFFICE, KOLLAM, KERALA)WHEN CONTACTED ON TELEPHONE THE CONCERNED STAFF, I GOT IRRESPONSIBLE REPLY(ie money will be sanctioned to me when they get sanction order from the higher up)SIR, I WANTED TO KNOW WHEN IT WILL BE SANCTIONED.THE POSTAL AUTHORITIES ARE LIABLE TO GIVE INTEREST FOR THE DELAY.SO I REQUEST YOU TO SANCTION THE POLICY AMOUNT WITH INTERESTAND BONUS AS EARLY AS POSSIBLE.IRS HOPE THE DELAY MAY BE DUE TO NEGLIGENCE BY THE CONCERNED OFFICER'S.

Post your Comment

    I want to submit Complaint Positive Review Neutral Comment
    code
    India Post
    Customer Care Service
    Customer satisfaction rating
    20%
    Complaints
    5778
    Pending
    0
    Resolved
    1172
    India Post Phone
    +91 77 1223 3400
    +91 61 2222 5051
    India Post Address
    Meghdoot Bhawan, Link Road, New Delhi, Delhi, India - 110001
    View Full Information
    ADVERTISEMENT