MARY MATHAI Vs. KALLOORKADU FARMERS CO-OPERATIVE BANK LTD
LAWS(KERCDRC)-2010-6-8
KERALA STATE CONSUMER DISPUTES REDRESSAL COMMISSION
Decided on June 08,2010

Mary Mathai Appellant
VERSUS
Kalloorkadu Farmers Co -Operative Bank Ltd Respondents

JUDGEMENT

- (1.) THE appellant in A.235/06 is the complainant in OP.126/05 and the appellant in Appeal 236/05 is the complainant in OP129/05 in the file of CDRF, Ernakulam. The complaints along with a number of other complaints stands dismissed vide the common order.
(2.) THE matter involved in the 2 appeals is with respect to the Mangalia Deposit Scheme and Karshaka Pension Scheme floated by the opposite parties/Farmers co -operative Bank. The opposite party bank started the above welfare schemes during the period 1992. As per the Mangalia Deposit Scheme if a member deposits Rs. 1,000 for 18 years on maturity he will be paid an amount of Rs. 16,000. The deposits can be made for the multiples of Rs. 1,000. As per the Karshaka Pension Scheme if a member deposit a sum of Rs. 10,100 at the end of 10 years and 30 days he will be paid a monthly pension of Rs. 750. The deposits under the above schemes also can be made in multiples of Rs. 10,100. There was also provision to make deposits in instalments; and for such members the pension was fixed at Rs. 600. In February 2005, the depositors were informed that the schemes are stopped from 15.3.2005 and thereafter only interest approved from time -to -time will be paid.
(3.) THE complainant in OP.126/05/A. 235/06 had deposited Rs. 1,01,000 on 20.6.1994 and 2,02,000 on 21.3.1995 under the Karshaka Pension Scheme. As per the terms he will be eligible for Rs. 7500 from 21.7.2004 with respect to the 1st deposit and Rs. 15,000 per month from 22.4.2005 with respect to the 2nd deposit. She was being paid a pension of Rs. 7,500 from 2004 onwards. Subsequently as per the intimation dated 15.2.2005 it was reduced to Rs. 3,333 and with respect to the 2nd deposit she was paid only 6666 instead of Rs. 15,000 In OP. 129/05/A.236/06 the complainant had remitted Rs. 12,000 on 19.6.1992, Rs. 5000 on 14.6.1994 and Rs. 19,000 on 1.10.1997 in the Mangalia Scheme. He had also deposited a sum of Rs. 3,0400 under the Karshaka Pension Scheme. He will be entitled for a sum of Rs. 1,200 as monthly pension from 24.5.2002 onwards.;


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