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Complaint Details
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State Bank of India,Mankundu Branch

Posted byMr. Viswaroop Sett 
Organization / Product Details
Organization Name
State Bank of India,Mankundu Branch
Organization e-Mailsbihelpline.lhocol@sbi.co.in 
Product/Service DescriptionWrong calculation of Interest in my Public Provident Fund Account no.01P00900377.
Warranty StatusDo not know.
Complaint Details
Reason for Complaint 
Complaint Rating10(in a scale of 1 to 10)
Name of the Company EmployeeRegional Manager,Eastern Region 
Complaint Details

My account balance on 31.3.04 was Rs.78,747.87 and interest calculated was Rs.5,926.41 whereas on 31.3.05 my account balance was Rs.1,22,174.38 and the interest calculated was Rs.5,629.29 although I deposited Rs.37,500 in the intervening period. Rate of interest never went down below 8% p.a. Clearly the rate of interest is wrong and I have lost at least Rs.2,500 to Rs.3000/-. 

Solution of your complaintDirection upon the Branch Manager to correct the interest amount in the on-board computer or the Regional Manager can himself correct the same. 
ActionIn India the legal system is so time consuming it would not be wise to take any legal recourse. However complaint can be lodged against the bank with the Reserve Bank of India and there are official websites to do so. 
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