Apni Law Staff asked 1 year ago
As a senior citizen receiving my pension through a PSU bank, I was surprised to find a deduction in my account without any prior notice. When I contacted the branch, they claimed I was receiving an excess pension due to the 20% increase meant for 80-year-olds, even though I am 78. However, they seem unaware of the official government guidelines issued in January 2013, which addressed pension discrepancies for pensioners like me. My concern is whether the bank can withhold my funds without informing me or providing me with relevant documentation. Can I take legal action against the bank and the individuals responsible for this oversight? I would appreciate information about applicable laws, including any online resources to download them.
Best Answer
Apni Law Staff answered 1 year ago
Indian law mandates that banks cannot deduct funds from accounts without informing the account holder and providing proper documentation. The bank’s actions appear to be in violation of this principle. You can take legal action under the Consumer Protection Act and the Banking Regulation Act, seeking redress for the wrongful deduction and compensation for inconvenience. The Ministry of Finance and the Pension Department websites provide relevant regulations and guidelines.
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