Kotak Mahindra Bank — maturity value credited less

Dear sir
I had fixed deposit with the subject bank at hirandani meadows branch, thane (West), branch code 0656, pincode400610. F. D. Number [protected] maturing on 16.06.2018. Maturity value rs 324801.00. To my retired senior citizen's utter shock bank credited proceeds of rs323596.00 only. Thus short credit of rs1205.00 without any explanation. That too when bank branch gives me email earlier day that maturity value rs324740.0 (Here also short by rs61.00). This unethical, anti-customer modus operandi of the bank.
Put up for addressing.
Thanking you - rravindra baji
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Kotak Mahindra Bank customer support has been notified about the posted complaint.
Jun 16, 2018
Updated by mudhol
further to my above complaint i have to state that i have submitted form 15h to the bank. bank has confirmed as per message dt 10.04.2018 on mobile receipt of form 15h.bank informing further that service request is h[protected]mumk01323a.
in view of this bank should not deduct any tax from maturity proceeds.if bank has dudcted the tax then i will not hesitate to pull kotak bank to i.tax dept/r.b.i.
put up for redressal.
thanking you
ravindra baji
Jun 18, 2018
Updated by mudhol
My CRN xxxx482
I had F.D. Xxxx633 with Hirandani Branch of the said bank, branch code0656.
Proceeds of maturity was Rs324801.00.F.D. Matured on 16.06.2018 and bank credited only Rs323596.00.Thus Bank credited proceeds short by Rs1205.00
As per one message through net banking of the bank.
Reply says
1)As per Kotak Bank records maturity value is only Rs324740.00.
(Thus short Rs61.00)
2)Reply further says Bank deducted Rs1144.00 towards I.Tax.
Now my charges
1)Where from bank brought maturity value Rs324740..00, looting by bank
2)How Bank dares to deduct income I.Tax Rs1144.00 when I have submitted to the Bank Form 15 H meaning Bank should not deduct I.Tax.
Bank acknowledged receipt of form 15H as per message dt 10.04.2018.This deduction of Rs1144.00 is illegal, bad in law.
Advise concerned branch to credit back Rs1205.00 (Rs61.00 + Rs1144.00) immediately.
If no credit, I am going to appeal against Kotak Bank to I.Tax department for illegal deduction of Rs1144.00.
I am also going to approach R.B.I. for above short credit of Rs1205.00 and urging R.B.I to act against Kotak Mahindra Bank.
Put up for addressing.
Thanking you
Ravindra Baji
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