Reserve Bank Of India [RBI] — Non payment of Interest on SCSS accounts by PNB

Address:

W-203, Hinduja Park Apartment, Near Kundalahalli Gate,next to shri ram Samruddhi Apartment

I had lodged the following complaint to PNB/H.O on18th Apr'21 under copy to their ZO/Chennai and R.O/Bengaluru East besides following up with the branch since 2nd Apr., still I have not received the interest on my SCSS accounts for the quarter ended Mar'31. I therefore request you to look into matter and instruct PNB to pay the due interest on all my SCSS accounts as listed in the complaint along with interest for the delayed period.

Complaint is as follows:

I am P.L.Arora, 82 years old, having account no. [protected] in my name and [protected] in my wife' name Mrs.Sudershan Arora with your Marathahalli, Bengaluru branch (erstwhile OBC). In the month of Feb.'21 I got all my Savings, FDRs and SCSS accounts transferred from HAL, Bengaluru branch to Marathahalli Branch. Subsequent to transfer of SCSS accounts interest for the quarter ended 31st March’21 has not been received for the following accounts, though it was being regularly paid in the previous branch.

1. 473000SCSS000004 fvg. P.LArora

2. 473000SCSS000014 fvg. P.LArora

3. 473000SCSS000044 fvg. P.LArora

4. 473000SCSS000052 fvg. P.LArora

5. 473000SCSS000045 fvg. Sudershan Arora

Another disturbing factor is that interest has not been credited for following newly opened SCSS accounts also.

1. 169410SCSS000018 fvg Mrs.Sudershan Arora (Opened on 29.01.21 with Marathahalli Branch)

2. 169410SCSS000017 fvg P.L.Arora (Opened on 29.01.21 with Marathahalli Branch)

When I observed that interest on my SCSS accounts for the quarter ended 31st March'21 not credited I approached the branch manager on 5th April who informed that they are experiencing some technical difficulties and interest will be credited by next day but nothing happened. Even after my persistent follow up with the branch for the last 13 days interest has not been credited till date, though manager promised every time that it will be credited shortly.

It appears that branch is not well versed with the procedure involved in dealing with SCSS accounts resulting in unnecessary harassment to senior citizens. I fail to understand why the Bank couldn't resolve the issue even after 2 months of transfer of accounts from one branch to another. And how the interest has been credited in 3 accounts viz: 473000SCSS000003-{169410SCSS000020-New}, 473000SCSS000013-{169410SCSS000021-New}and 473000SCSS000051-{169410SCSS000022-New} but not in remaining 7 accounts as stated above .Moreover, how interest receivable in FY 2020-21 and TDS deducted will be accounted for in Income Tax calculations.

I therefore request you to look into the matter and get the interest credited into respective savings account at the earliest without necessitating any further reminder or need to escalate the complaint to RBI and Ministry of Finance etc.

Thanking you

P.L.Arora
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