News > Failure to pay security amount even after 21 years of its maturing, UCO Bank liable

Failure to pay security amount even after 21 years of its maturing, UCO Bank liable

Hooghly District Commission held UCO Bank liable to account holders with UCO Bank who previously held a locker. While opening the locker, the Complainants purchased a Kuber Yojana Deposit Scheme certificate worth Rs. 25,000/-, which matured on December 2, 2003, and served as security for the locker. The Complainants informed the Branch Manager in writing of their inability to continue with the locker and requested its closure.