Sir
Whenever new pensioners opted to receive their pension from Public sector Banks (under P S B Scheme) pensioners are invariably asked by Bank to produce the Indemnity Bond on a stamp paper of Rs 100/-indemnifying the Bank against over payment/less payment.
Such provision also seems to have been mentioned under SBI FAQ
On the face of it is it not patently strange and a bit illegal in the sense when bank itself is paying authority and if any loss occurs due to their inefficiency and results into excess payment how can bank is justified in seeking indemnification from the pensioner who hardly have any role in the process of payment.It is bank who has to indemnify the pensioner against less payment to pensioner if any and recover excess payment from those who make such excess payment, because it is bank staff which is committing the professional irregularity and for that it is bank staff who has to indemnify the Bank against loss and not pensioner
Please throw some light on this aspect this regard because innumerable numer of pensioners are subjected to this hardship every year without justification