Non submission of Pan details will result in Bank Account closure

Delhi Consumer court has confirmed that any customer who denies submission of pan card details for holding his account, the bank authorities can take necessary initiative to close his account.

A recent case was filed in the Delhi’s top consumer court by a customer named Ramesh Chand who was not given any consideration on continuing his account operations without providing pan details; the HDFC bank closed the account.

B.A. Zaidi, Delhi State Consumer Disputes Redressal Commission’s President said “The HDFC bank cannot be faulted for its attitude in closing the account in the circumstances”.

The commission president when hearing the appeal filed by the customer, Ramesh had asserted dues because the bank had ceased his account without his knowledge.

The HDFC bank was then found by the commission providing alternative option that the customer was not left blank without any of their other services after the account closure, services relating to direct banking facilities provided such as utility payments, cash deposits, withdrawals and fund transfers.

Ramesh requested the commission president to take necessary action for re-opening his bank account.

District Consumer Forum perceived that the HDFC bank had informed the customer Ramesh Chand regarding closing of his account on the reason for having large value  transactions which were not commensurate with the business done through the bank. The commission agreed to this observation.

When Reserve Bank of India earlier issued guidelines as to anti-money laundering the bank had checked during the said period every account holder’s transaction among which the given customer’s account was then holding high value transaction by deposit and withdrawing and cheque presented for deposits also indicated high value numbers which were not at all proportionate to the business channelised through the bank.

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