PPF Interest not fully paid?

Question

Dear Sir, I was stationed at Indore till Nov. 2013 and had an S.B. A/c (Jt. With wife Nalini Kumar) at your Bank Old Palasia Branch(3432), Indore. I also had a PPF account at the same branch vide A/c In Dec. 2013, we shifted to Bhiwadi. Accordingly, our S.B.A/c was shifted to Bhiwadi Branch at Neelam Chowk, Bhiwadi, Distt. Alwar, Rajasthan, carrying the same account number. I also applied for shifting of my PPF account to Bhiwadi Branch. Subsequently, in the process, my PPF account at Indore was closed on 28-01-14 with a balance of Rs.83450.09. A new account No. was also opened at Bhiwadi on 28-04-14, in which I deposited Rs.1000/- on 28-04-14 as my contribution for the Year 2014-15. But the balance from the Indore Branch, amounting to Rs.83450.09 was credited to my PPF account only on 07 July 2014. On 16th April 2015, I again deposited Rs.1000/- towards my PPF contribution for the year 2015-16 and got the transactions entered in my PPF Pass Book. I was shocked to note that interest on my PPF account has been paid only from 07-07-14 (the date of opening of account at Bhiwadi) till the end of financial year 31-03-15. No interest has been paid for transit period from 28-01-14 to 07-07-14. The matter was brought to the notice of Branch Manager, Bhiwadi and written application was submitted to set the accounts straight. It is now more than six months, I have made innumerable numbers of rounds at the Bhiwadi Branch to get the interest credited to the PPF account, and every time I am promised immediate action but nothing happens. Kindly note that the transfer of PPF account was fully handled by bank only. The money was all along with bank only. The delay if any in the transfer is on account of bank only. I am repeatedly being told that Your complaint has been attended to and closed after resolution as amount could not be credited for unavoidable reasons Kindly look into the matter and arrange to get my dues credited to my PPF account at the earliest, w.e.f 01-04-2015 so that I do not lose the interest on this amount due to delay in entry by  (NARENDER KUMAR)

Answer 1

Dear Narender

At the outset, let me clarify that this site is designed by a group of Senior Banking Professionals to assist Bank Customers at large to provide guidance for resolution of any complain/query/grievance in respect of financial services. This site does not belong to any Bank or a regulator, which may please be noted.

A sad story of extremely insensitive and lethargic bank services.  Please forthwith take it up with the Bank's senior management / Banking Ombudsman.  The process is given hereunder.

1.    Go to your Bank’s website and search for grievance redressal (or similar name) button and submit your complaint online.

2.    If you do not receive any reply / satisfactory reply within 10 days, lodge your complaint with the Nodal officer of the Bank (either through email or letter)

3.    If you do not receive any reply / satisfactory reply within 10 days from the Nodal officer, lodge your complaint with the Principal Nodal officer of the Bank (either through email or letter)

4.     If you are still not satisfied with the reply / do not receive reply from the Principal Nodal officer within 10 days, lodge your complaint with the Banking Ombudsman (either through letter or email)

RAJA