Cuddalore Central Co-Operative Bank
Withdrawal of interest percentage towards senior citizens

Respected Sir/Madam

I'm a senior citizen residing at #147 Annanagar, Bank Colony Koothapakkam, Cuddalore - 607 002. I am a retired employee of Cuddalore central Co Operative Bank, Cuddalore. I live only with the interest from the savings I have with the bank.

According to the interest regulations, it is known that the senior citizens are eligible for a 0.5% extra interest rate compared to the rates with normal citizens which is been provided by the Government of India. In addition to this according to the internal Bank regulation (of Cuddalore Co Operative Bank), the retired employees are eligible to avail an other extra percentage of 1%. So totally the retired senior citizen employees are eligible to avail an extra percentage of 1.5% interest rate from compared with the normal. This was in act until October.

From November onwards the Bank management decided to withdraw the 0.5% interest rate which is the regulation supposed to be in act for the senior citizenship of India. This is been in act for the retired employees of the bank alone keeping in mind the 1% extra interest rate provided according to the internal regulations of the bank.

I hereby would request you to kindly have an inspection carried on towards it since i feel that you are authorized for it. I request you to bring back the privileges supported for the senior citizens of our country and remind the concerned authorities to put the regulations back in place. As a senior citizen and at this age with the compulsion of dependancy, i don want to lose my privilege provided by the government of India.

I had provided my hard work and dedicated services to this Bank until my retirement age and i wish them not to withdraw the compulsary privileges provided by the government to support the senior citizenship. So please take this into consideration and kindly initiate an enquiry on this to protect our rights.

I volunteer on behalf of so many dependant aged citizens who are suffering from the same. So please consider the above and take appropriate actions to save us

Thanks in advance

Shanmugam