State Bank Of India [SBI] — Violation of SCSS rules

Complaint against
SBI
STATE BANK OF INDIA
Mumbai

SBA [protected]

SUBJECT

A. Our scss FD matches on 19th September a bank holiday and SBI says, we will credit the amount only on 20th September.

B. Violation of SCSS rules, punishable under the consumer protection act 1986.

C. SCSS RULE as follows

(3) In case any of the dates of interest payment, specified under sub-rule (2), fall on a Sunday or a
holiday, the previous working day shall be deemed to be the due date for the purpose of interest.

BRIEF as follows

If the total amount is credited on 20th, at the end of the day (which you always do), then SBI will have to pay three days interest.

18th as per SCSS rule
19th. Holiday
20th kept our money for the whole day.
Total 3 days interest for the delayed period as per law.

Also make a legal note

If it is paid on 20th, it would amount to violation of SCSS rules making you liable under the consumer protection act 1986, to pay not only 3 days interest but also heavy penalty of ₹ 50, 000 entirely at your risk, cost and consequences for hello of the trauma and waste of our valuable time and monetary losses we have to suffer due to your illegal step, make a legal note of.

RK Agarwal