Imagine the case of a senior citizen (that too, over 80 years old) having a bank account. For such a person (and indeed for all of us), it is essential that institutions such as banks and others that hold money for these citizens act in a proper responsible manner, and ensure that all complaints are attended to. In addition, banks need to not act as cold impersonal places and instead treat people with courtesy and listen to them. In the case of a senior citizen in Delhi whose account balance was reduced by UTI bank, the bank has been fined a sum of Rs. 1 lakh by the Delhi State Consumer Commission:

The Delhi State Consumer Commission has slapped a penalty of Rs 1 lakh on a private sector bank for lapses in finalising the account of an 85-year-old customer. The Commission asked the UTI Bank (now known as Axis Bank) to pay the amount to octogenarian Surya Narayan Saxena, a resident of Swasthya Vihar, who alleged that the bank had paid him less interest on a deposit and also reduced balance amount in his saving bank account.
Saxena, who was having a saving account with the bank, lodged a complaint with the district forum in March 2006 on the ground that his balance amount had been reduced from Rs 3.83 lakh to 3.29 lakh in March 2003. His another grievance was that he was paid less amount of interest on his fixed term deposit. The Commission termed the shortfall of over Rs 50,000 in accounts as “unexplained and truly alarming” to Saxena.

It needs to be remembered that banks hold money for its account holders and the money is owned by the account holder and not the bank, and it is the right of the citizen to demand full satisfaction for his / her queries and that any discrepancy be explained. If not, then the account holder has the full right to ask for an explanation from the ombudsman or a consumer court.