J U D G M E N T

(Delivered on 09.04.2026)

This is an appeal challenging the correctness and legality of the judgment and order passed by the learned District Consumer Disputes Redressal Commission, Ahmednagar (the ‘District Commission’ for Short) in Consumer Complaint No. 154/2018, where by the District Commission partly allowed to the complaint filed by the appellant and directed the respondents to remit fixed deposit sum of Rs.2 lakhs in FDR No.18648 and Rs.50,000/- in FDR No.18649 along with interest @ 4% per annum as per the directions of Reserve Bank of India.

2. The brief effects facts giving rise to this appeal are that, the appellant had kept following sums in Fixed Deposit Account (‘FD’ account for short) and from the date, with the respondent as shown the following table. The initial term of the FD was 7 years. The rate of interest was 9% per annum. The FDs were to be renewed for the same term, if the depositor does not choose to withdraw the maturity sum.

3. It is the case of the appellant that he along with his family members kept the above sums in fixed deposit accounts in the respondent bank. The sums mentioned in above table were initially kept for the period of 7 years. It was told by the Manager of the respondent that, the fixed deposit kept for the longer period are subject to renewal for the another similar term. Even though he requested the Manager after the maturity that the FDs may kindly be renewed. He agreed to that but not done so. It was promised that, the principal amount would be given with the interest @ 9%. p.a. Thereafter also he gave him the written request. But the Manager replied that the original FD receipts are not forthcoming. He thereupon and on the request of the officials of the respondent gave the Hamipatra and Indemnity Bond. Thereafter also the respondent not remitted him the maturity sum. On 25/01/2018 the respondents informed him that his maturity sum amount has been transferred to Depository Education and Awareness Fund (‘DEAF Account’ for short) as per the directions of the Reserve Bank of India.

4. The appellant further averred that, as per of the scheme and circular of the Reserve Bank of India the FD accounts, which are unclaimed over the period of 10 years or more, can be termed as in-operational accounts and sums therein shall be transferred to the DEAF account with the Reserve Bank of India, with a certain prescribed procedure. The respondents not informed anything about the action of transferring FDR maturity sum. They have not displayed any notice to that effect on notice board. The Reserve Bank of India gave the direction to the all banks on 30/06/2015 to take the steps in this regard. However, the respondents acted hurriedly in accordance with those directions only in 2018. The respondents offered him the remittance of the amount at the interest @ 4%. As such, when the respondents not remitted him the sum along with interest @ 9% per annum, he filed the above referred consumer complaint before the District Commission, in which the impugned judgment is passed.

5. The respondents have taken the stand both before the District Commission and us that, as per the scheme and directions of the Reserve Bank of India dated 27/05/2014 the FD accounts which are not renewed on the date and are in the category of non operational/unclaimed FD accounts, the sums in them shall we transferred to the DEAF account. They informed the appellant again and again about it, but no steps were taken. As per the directions of Reserve Bank India the notice/intimation to all the concerned was displayed on their notice board. On 28/06/2014 public notice was given in ‘Daily Sakal’ to all such account holders, whose FD a