SBI Deducted ₹5,000 From the Principal Amount Upon FD's Maturity

[SJM]

True that. Four months isn't really a short time though. And showing no compassion on top.

Any suggestion on how much should be the reasonable compensation amount I should seek? I don't want to be too unreasonable.

It's totally upto you. Maybe you can ask for 20K.

 

[CosmicCat]

Looks like even forwarding the complaint to RBI BO was useless. Today, my father received the following email from RBI Ombudsman (crpc@rbi.org.in):

"Dear XXXXXXX,

With regard to your complaint number NXXXXXXXXXX, RE's reply is being shared with you as under.
"...With reference to the captioned ombudsman complaint, customer alleges for deduction of TDS. In this regard, we have referred the matter to the concerned branch, and they have replied the customer for the reasons on whose ground customer’s request cannot be proceeded with and the letter is attached herewith..."

If you have any further comments against the RE's submission you can write to us by replying to this mail (without changing the subject line) and attaching documents in support of your comment within 2 calendar days. Otherwise the complaint will be processed for closure.

With Kind Regards
Team ORBIO, <Region>I"

(Although in the tracking status at their online CMS portal still shows no progress.)

And guess what? The letter was from the Branch Manager (Hats off, SBI! Wow!) with the bank's letterhead and the BM's sign and branch's stamp, and contained no different reply from what the bank replied in the CMS. The Branch Manager didn't even bother to verify the facts (Like providing incorrect FD opening date, mentioning "Form 15G" instead of "Form 15H", etc.) and didn't even acknowledge the issue which was at their end -- which was, Form 15H wasn't acknowledged for all the SCSS deposits for the Jul-Sep 2024 quarter, and deducting a so-called irrelevant "Overhead TDS" of ₹4,900 from an unrelated short-term FD's principal amount, whose Form 15H wasn't submitted separately, which is ethically wrong given the nature of "Fixed" Deposits.

I really feel pissed off now at SBI for how they are handling this case, i.e., putting the Branch Manager answerable for an "escalation," and having no proper grievance redressal mechanism whatsoever, providing false information to RBI without verifying facts, and most importantly -- refusing to acknowledge a massive technical issue at their end.

 

[6ix9ine]

I'm not surprised, it was expected anyway. If this was another bank, RBI would've gone nuts.

 

[CosmicCat]

Looks like even forwarding the complaint to RBI BO was useless. Today, my father received the following email from RBI Ombudsman (crpc@rbi.org.in):


(Although in the tracking status at their online CMS portal still shows no progress.)

And guess what? The letter was from the Branch Manager (Hats off, SBI! Wow!) with the bank's letterhead and the BM's sign and branch's stamp, and contained no different reply from what the bank replied in the CMS. The Branch Manager didn't even bother to verify the facts (Like providing incorrect FD opening date, mentioning "Form 15G" instead of "Form 15H", etc.) and didn't even acknowledge the issue which was at their end -- which was, Form 15H wasn't acknowledged for all the SCSS deposits for the Jul-Sep 2024 quarter, and deducting a so-called irrelevant "Overhead TDS" of ₹4,900 from an unrelated short-term FD's principal amount, whose Form 15H wasn't submitted separately, which is ethically wrong given the nature of "Fixed" Deposits.

I really feel pissed off now at SBI for how they are handling this case, i.e., putting the Branch Manager answerable for an "escalation," and having no proper grievance redressal mechanism whatsoever, providing false information to RBI without verifying facts, and most importantly -- refusing to acknowledge a massive technical issue at their end.

Update to the quoted reply: It has been over a month now (since 16-05-2025) since my dad replied to the email he received from RBIO Kolkata-I (crpc@rbi.org.in) pertaining to the complaint he made on the RBI CMS portal on 05-05-2025, yet he hasn't received any response yet.

I understand sometimes it may take even months, but it is making me more anxious, since SBI hasn't reported the ₹4,900 TDS (the amount in question) in AIS, while all other deposits have been reported already upto March 2025. Also, AFAIK, most cases generally are closed within 30 days at most, but his complaint is still in the Stage 1:



CC: @SJM - What's the maximum time RBIO Kolkata took to close your complaint?