Attn: Consumers having RD account in Post Offices:
I am quite sure that most of you would be having savings and fixed deposit accounts in Post offices. One of the scheme is RD account (with auto debit facility) for which monthly deposits are required to be deposited on recurring basis. As per rules of Department of Posts, the monthly deposits are required to be deposited by 15th of the next month for the account opened between 1st and 15th of the month. It is the last working day of the month if the accounts have been opened during 16th and the 30th/31st of the month. However as observed, the Post Offices are deducting your saving bank accounts on 15th of the month irrespective of the period of opening of the account causing a loss of interest to the account holders.
The consumers having accounts in Post Office and opened account during the period of 16th to 30th/31st of the month may kindly check their passbook. I am planning to file a PIL before National Commission and hence would like to have details of the members who are feeling deceived due to such practices. Any clarification may please be sought on this post. more
I am quite sure that most of you would be having savings and fixed deposit accounts in Post offices. One of the scheme is RD account (with auto debit facility) for which monthly deposits are required to be deposited on recurring basis. As per rules of Department of Posts, the monthly deposits are required to be deposited by 15th of the next month for the account opened between 1st and 15th of the month. It is the last working day of the month if the accounts have been opened during 16th and the 30th/31st of the month. However as observed, the Post Offices are deducting your saving bank accounts on 15th of the month irrespective of the period of opening of the account causing a loss of interest to the account holders.
The consumers having accounts in Post Office and opened account during the period of 16th to 30th/31st of the month may kindly check their passbook. I am planning to file a PIL before National Commission and hence would like to have details of the members who are feeling deceived due to such practices. Any clarification may please be sought on this post. more
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So it is a matter of non-performance by the employees of post-offices. I feel myself safe because I restricted using post office services long ago and in any case I never used for banking except NSCs that too may more than 30 years ago. I do use Banks but the services even in Banks are not perfect. In current days for the benefit of citizens Banking Regulation needs to be changed when we consider the risk what a bank covers for an individual not exceeding Rs.100,000 (Rupees One lakh) irrespective of your relationship value. Currently most of the account holders maintain a relationship value exceeding Rupees one lakh. The government has moved towards cashless environment without changing the Risk Cover by Banks. One can imagine the consequences of this limit when the Banks fail. more
Mar 24
@Shishir Kant Ji That is why I stated that everyone is affected and there is a need of filing PIL in National Commission. more
Mar 24
I presume that Post Offices also have implemented computerised system and this flaw should not happen if appropriately linked in back office. more
Mar 24
