The court established that the financial rights of depositors cannot be unjustly denied based on procedural issues, affirming automatic renewal under amended rules and reinforcing equality before the law.

JUDGMENT

Saving money by a poor man or woman is not to buy a BMW car or to purchase a palatial building or for a luxurious life. The same is for fulfilling his/her small dreams. Every man and woman may have dreams about their life.

2. In this case, an illiterate poor domestic helper deposited her hard earned money of Rs.20,000/- in a 2-year post office time deposit scheme. She do not know the fact that after the maturity, the deposit is to be renewed. She thought that she can wait and the interest will accrue every year and she can withdraw the amount when her dream amount arrived. But when she approached the authorities in 2021, for withdrawing the amount, the authorities said that, after two years, she did not renew the deposit and therefore, she is not entitled assured interest after the maturity period. She forced to file this writ petition to get interest for the deposit as on today. Even poor domestic helper who deposited her hard earned money of Rs.20,000/- in the post office time deposit scheme has to approach this Court to get her interest !

3. Facts in detail are like this:

On 20.11.2012, the petitioner deposited Rs.20,000/- in a 2- year post office time deposit scheme at Muttada Post Office, Thiruvananthapuram. She came to know that the amount of interest on the deposit for two years term was Rs.1,712/- and the interest rate for a 2-year time deposit in 2012-13 was 8.3%. Ext.P1 is the savings pass book of the petitioner which will show that she deposited the amount on 20.11.2012. The petitioner who is a poor domestic helper was not aware of the date of maturity of her amount and had not approached the post office after making the deposit. Admittedly, the postal authorities also not intimated the same to the petitioner. She thought that if the deposit continue for a long period, she will get more interest. Moreover, it is stated in the writ petition that she was also busy with treatment of her daughter who has been suffering for years with acute stomach cramps.

4. Subsequently in 2021, the petitioner approached Muttada Post Office to close the time deposit account and to withdraw her money to meet her personal expenses. Then the authorities informed the petitioner that she will be entitled to get interest rate on the amount only from 2012 to 2014. Aggrieved by the same, the petitioner submitted a representation before the 1st respondent to disburse the amount from 2014 to 2021. Ext.P2 is the representation. The same is rejected by the authorities as evident by Ext.P5. The main reason for rejecting the prayer of the petitioner is that as per the Post Office Savings Bank Manual (POSB Manual) Volume-I, Rule 138, after the deposit amount has become due for payment, the petitioner has to claim the amount or should renew the deposit in a new account after submitting a prescribed form. Aggrieved by Ext.P5, the petitioner preferred a lawyer notice to respondents 1 and 2 to disburse her amount with interest. The petitioner contended that as per the Post Office Time Deposit (Amendment) Rules, 2014, the Central Government had made certain amendments to the Post Office Time Deposit Rules, 1981, by which the petitioner is entitled full interest until withdrawal of the amount. Ext.P6 is the lawyer notice preferred by the petitioner to respondents 1 and 2. Ext.P7 is the gazetted copy of the notification by which the amendment mentioned in Ext.P6 notice was made. But the respondents refused to entertain the same and rejected the same as per Ext.P8 reply. In such circumstances, this writ petition is filed with following prayers:

1. Declare that the post office time deposit account of the petitioner in Muttada Post Office, is governed by the Exhibit P-7 Post Office Time Deposit Amendment Rules 2014.

2. Issue a writ of mandamus or appropriate writ, order or direction commanding the 1st respondent to disburse the interest amount on the deposit made in account No- 617074 to the petitioner from the date of renewal to the present day at rates ava