This letter written to the Bank have all the information about our complaint Date : 21.08.2017 The Branch Manager Punjab and Sind Bank Shalamar Road, JAMMU Madam, RE : REQUEST FOR ALLOWING OF INTEREST ON FDR AT PREVAILING RATE OF INTEREST ON FDR FROM 01.07.2014 TO 23.03.2017 Please refer to your Letter No. PSB/122/17 dated 15.05.2017 in response to my request Letter No. DDET/17/PSB/09 dated 22.03.2017 and Reminder dated 01.04.2017 for allowing Interest at then prevailing Rate of Interest on FDR matured and renewed on 01.07.2014 in the name of trust and in this connection It is for your kind information that Circular No. 3164 dated 06.04.2015 referred in your Letter has been Misconceived and Misinterpreted as the Circular was issued in the year 2015 and FDR was Renewed from 2014 on which Circular of that date is to prevail and not Circular issued in the year 2015 , referred in your Letter. As per the General Law of Prudence every Circular effecting the right of the different Parties to agreement its Applicability is always Prospectively and not Retrospectively unless and otherwise specifically narrated in the Circular. As the FDR was to be Auto Renewed in the year 2014, so Interest prevailing at the time of Renewal i.e. 01.07.2014 is Applicable from that very date till the FDR is withdrawn. As the Interest on this FDR has wrongly been calculated at the prevailing Saving Bank rate by Misinterpreting the Circular issued in the year 2015, so it is humbly requested that Interest accrued and payable on the FDR for the entire Period from the Date of Renewal i.e.01.07.2014 to 23.03.2017 may kindly be allowed at the Interest Rate on FDR prevailing at the time of Renewal (1.7.2014) and the value of the FDR be adjusted accordingly. An early and sympathetic action will be highly appreciated. Thanking & Regards Yours Sincerely (SUNIL SAWHNEY) Chairman Copy to : 1) Chairman & Managing Director, Punjab & Sind Bank, New Delhi 2) Zonal Manager, Punjab & Sind Bank, Gurdaspur

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