Jagannth Prasad v. The State Bank Of India Through Its Chief General Manager and Ors.
Case brief
What is this about?
The court allowed an appeal by a compulsorily retired bank employee claiming delayed terminal dues interest. Ruling that the bank is bound by its own circulars, the judgment held the bank liable for interest from the punishment order date, rejecting claims of contributory negligence by the employee.
What did the court decide?
Interest payable on terminal dues from the date of punishment order at the rate applicable to Provident Fund deposits; bank order modified with three-month payment directive.