My parents are having FD’s in The Vaish Co-operative Commercial Bank Ltd, 4153, Nai Sarak Delhi 06. They had invested their life time savings in these FD’s. From 2015, RBI has put an obligation on withdrawals by saving account holders.
Now, my father is diagnosed with 3rd Stage Verucous Carcinoma (Cancer in Soft Pallet, Hard pallet). Doctor has advised us that the treatment cost would go around 10Lac and our whole life savings are stuck in this bank. Due to the obligation on withdrawal by RBI we cannot use our money for medical treatment.
We need our money back so that my father can go for his treatment as soon as possible which is very much required.
For the sake of humanity, I request your help in getting us permission for withdrawal.
I C Naik
Relationship between a Depositor and Credit Society/COOP BANK is held to be that of Service receiver and service provider respectively. Where liability of a matured deposit is not honoured it is reckoned as a deficiency in service by the Service Provider it terms of Provisions of the Consumer Protection Act, 1986
Every district/State has District State Consumer Court which accept Complaints of Consumers against service providers in respect of a deficiency in service. Complaints worth Rs 20 lacs or less are within the jurisdiction of a District Court. Consumer can himself argue Housing Society case as it is based on facts and not legal issues.