I was having a Savings bank account with UCO bank and 2 Fixed Deposits with them. Banks charge SMS alert charges as per RBI guideline. UCO bank never informed by email or SMS or otherwise & dishonoured my cheque, though sufficient balance was available, leading to lot of hardship.
I closed the savings bank account in Nov 2016 and balance was transferred in my other Bank Account by UCO Bank by NEFT. Fixed Deposits remained with them due to Maturity Date issue.
My Fixed Deposits were booked by me for 24 months, maturing on 8th March. UCO Bank, without my consent extended the date of maturity(not-auto renewal) to 14th June and then to 8th July.
UCO Bank deducted 2 times TDS and not deposited same with Income tax, calculated less interest(wrongly) and on my protest chose not to respond.Issue was taken up to UCO bank HO level - no relief, then to Banking Ombudsman, Bangalore - UCO Bank gave misleading and wrong information to Banking Ombudsman(BO) and BO did not chose to cross verify the facts.
On maturity of Fixed Deposit, FDRs were sent for collection through other bank Savings account, after giving notice in writing and discharging on the back side of FDRs - UCO bank refused to pay. UCO Bank had made statement to Banking Ombudsman that on receipt of written request from Depositor - maturity amount will be paid - but they refused to pay.
Is there some one to save the Depositors from such high handedness and malpractice of Bank? Or the Sr Citizen has to suffer like this - having own money but not paid by bank even after maturity, discharge in writing and presenting for encashment. If I go to Court - the Bank employee who are doing this wrong do not have to pay Legal Fee from their pocket for their wrong doing - is it not violation of Negotiable Instrument Act? is someone listening?