Legal Question in Banking Law in India

My bank account was not credited with eight thousand rupees due to mischiefs by bank officials during depositing. When i check balance after two years, i came to know about it. I went to bank manager along with the ''Deposit Slip'' but they said its too late and provides no solution. Since its more than four years passed, how do I retrieve my money now?

Asked on 8/26/13, 6:34 am

2 Answers from Attorneys

Fca Prashant Chavan Expert Edge LLP


Dear Sir / Madam,

Each and every bank is supposed to maintain all accounting and financial records for a period of eight years. In your case, since only four years have passed, the concerned Branch Manager is wrong in telling you that its too late. The Branch Manager is supposed to extract the record and give you the status of the deposit, and the reason if any, of why the amount was not credited to your account. You should give an written application to the Branch Manager to retrieve the status, and re-post query or contact me directly, if there is no action forthcoming from the bank within 10 days of your letter to them.


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Answered on 8/26/13, 7:39 am

J. Radhakrishnan independent Practice

file a complaint with banking Ombudsman, if you don't get redress on serving a legal notice for the relief you want to the Chairman of the Bank. You can get the details of complaint format from the RBI website.

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Answered on 8/26/13, 8:38 pm

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