🇮🇳 Banking Blindspot: How a ₹24 Lakh Insurance Payout Became a Nightmare for an Elderly Woman in Visakhapatnam
Visakhapatnam, Andhra Pradesh — What should have been a moment of solemn closure for 72-year-old Manikyam, an illiterate senior citizen mourning the loss of her daughter, son-in-law, and two grandchildren in a tragic HP Gas fire accident, has instead turned into a bureaucratic ordeal at the Union Bank of India, Sivajipalem branch.
After years of struggle, Hindustan Petroleum Corporation Limited (HPCL) awarded Manikyam ₹24 lakh under its LPG accident insurance scheme. The cheque was deposited into her long-standing savings account at Union Bank. But rather than receiving support and compassion, she now faces confusion, harassment, and procedural ambiguity from bank officials who seem more focused on suspicion than service.
🏦 A System Failing Its Most Vulnerable
Despite her decades-long relationship with the bank, Manikyam has been subjected to relentless questioning and contradictory instructions. Officials have demanded she either withdraw the amount in cash or transfer it to family members—without offering a clear process or rationale.
The bank’s refusal to issue a cheque book, citing her thumb impression as a limitation, exposes a glaring gap in inclusive banking practices. Her grandson, K. Kishore, who is both the nominee and counter-signatory on the account, has been stonewalled by officials now raising concerns about income tax verification and TDS rules—regulations they themselves appear to misunderstand or misapply.
💬 “Why Should We Explain How We Got the Money?”
The family’s frustration is mounting. “Is it a rule that we must explain how we got the money to bank employees?” asks Kishore. “This is not a criminal investigation. It’s a legitimate insurance payout after a tragedy. Yet, they treat us like suspects.”
In a final twist, the bank is now demanding a written undertaking from the family before processing the funds. This raises serious questions about legality, ethics, and the bank’s understanding of its own procedures.
📉 A Wake-Up Call for Indian Banking
This incident is more than a personal tragedy—it’s a systemic failure. It highlights urgent gaps in India’s financial ecosystem:
- Why are thumb impression holders denied basic banking tools like cheque books?
- Why is there no streamlined process for handling large insurance payouts?
- Why are senior citizens subjected to undue stress, suspicion, and procedural hurdles?
Manikyam’s ordeal is a stark reminder that financial inclusion is not just about opening accounts—it’s about ensuring dignity, clarity, and respect for every customer, regardless of age, literacy, or background.
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