Punjab National Bank [PNB] — Unfair deduction of FD interest

Address:	OBC Bank, Gokhale Road (N), Dadar, Mumbai
Website:	www.obcindia.co.in

In Brief: FDs made by my mother in 2011, for her grandchildren are earning saving rate of interest for about 6 years as the Branch Manager refuses FD rate of interest caliming that the FD matured and was not renewed. The BM rudely claimed that, "Saving Bank Interest is being provided post maturity of Fixed Deposits as per policy."

I pointed out that this is against RBI guidelines & also their own policy below is the Website link and section on Page 9...

https://www.obcindia.co.in/documents/CSP2019034_OBC%20Deposit%20Policy%20FY_%202...⇄

l) The term deposit account holders at the time of placing their deposits can give instructions with regard to closure of deposit account or renewal/Auto renewal of deposit for further period on the date of maturity. In case of absence of any instructions deposits will be treated as an auto renewal deposit and would be renewed for a similar period as that of matured deposit.

The Branch Manager Kishore Kunal niether takes my calls nor replies to email.

Please assist.