Court asks SBI to pay Rs 1 lakh due to a Hyderabad customer

HYDERABAD: Telangana Consumer Disputes Redressal Commission ordered State Bank of India to pay an amount of Rs 1,00,00 that is due under the EX A1 Golden Jubilee Certification issued by the bank to the complainant. The court also directed the bank to pay Rs 10,000 towards the cost of litigation within 45 days, failing which the complainant can claim compensation of Rs 25,000.

The complainant, Pusunala Kumari Padma claimed that her father had obtained the golden jubilee certification in her name from the State Bank of India. She said that her father had deposited an amount of Rs 5,203.30 for the certificate which claims that the bank will pay Rs 1,00,000 to the person in whose name it was deposited after 25 years. The complainant said that the bank refused to pay the said amount and offered to pay Rs 50,000 instead and hence approached the court.

The bank denied the allegations and claimed the golden jubilee certification was issued on the basis of made-up renewals in the tenth and twentieth years. They further contended that the complainant as per their calculations is entitled to receive Rs 54,938. They requested the court to dismiss the case as there is no deficiency on their part.

The court, hearing both the parties said that the certificate obtained by the complainant clearly indicates the due amount as Rs 1,00,000 and hence the bank is liable to pay the entire amount as assured under EX A1 Golden jubilee certification.