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EN
Ombudsman directs Achievers Credit Co-op to refund
['Staff Reporter']
Indian Cooperative
In a significant ruling aimed at protecting depositors’ interests, the Cooperative Ombudsman Alok Agarwal has directed Achievers Credit Cooperative Society Ltd., Lucknow, to refund the matured recurring deposit of a complainant, Kumari Nidhi, along with up-to-date interest, within 15 days.
The complaint, filed by Kumari Nidhi, stated that she had invested in a 72-month recurring deposit plan of Rs 2,000 per month starting March 7, 2018.
After the maturity of the deposit, despite submitting written requests dated October 5 and 22, 2024, the Society failed to refund the deposit or respond to her queries.
Following a notice from the Ombudsman’s office on March 24, 2025, the Society initially failed to respond.
However, Kumari Nidhi had already provided the necessary details via a letter dated May 13, 2025.
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'directs'
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'achievers'
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'deposit'
'kumari']