Bank in Kodaikanal refuses NRI?s deposit on ?security concern?

Madurai: In a shocking incident, the branch manager of a nationalised bank in Kodaikanal gave a written statement to a Non-Resident Indian (NRI) that he could not accept a cash deposit of Rs. 1.5 lakh owing to ?security concerns?.


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The NRI, Albert Fernando, has an account with the bank in Tallakulam branch in Madurai. ?I have been doing construction work in Kodaikanal with the money I withdrew from Tallakulam branch in Madurai. However, Rs. 1.5 lakh remained with me when demonetisation of Rs. 500 and Rs. 1,000 notes was announced,? Mr. Albert said.

In an unexpected development, his friend in Chennai fell sick and he had to rush there to attend to him. However, since the money in hand was in the denomination of Rs. 1,000 and Rs. 500, he wanted to deposit it in Vadakaunchi branch of the bank in Kodaikanal.

When he handed over the pay-in slip along with the cash on November 16, the cashier asked Mr. Albert to meet the Manager.

The Manager told him that he could not repay the huge money in smaller denominations immediately, though Mr. Albert clarified that he only wanted to deposit the money.

?I had to travel a lot and did not have time to go back to Madurai to deposit it at Tallakulam branch. I also had apprehension about its safety in carrying it along with me,? he said.

?The bank officials asked for my PAN card which I produced. After a brief chat with the cashier, the Manager said that there was a burglary in the branch a few months back and refused to take the money citing safety concern,? Mr. Albert said.

However, when Mr. Albert insisted on a proper reply, the Manager gave that in writing on the pay-in slip.

Mr. Fernando said that the Manager was only shirking the responsibility of accepting the remittance of Rs. 1.5 lakh, when the Union Government had allowed deposits up to Rs. 2.5 lakh account holders? accounts.

?If the bank had such a serious compromise on its safety, how are other deposits kept in the branch?? he asked. He lodged a complaint with the bank officials in Madurai.

Article from The Hindu

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