Wife misses loan payments, bank recovers dues from husband's pension kept in joint bank a/c; Odisha HC tells bank to return money

The Odisha High Court has made a significant statement regarding financial security for retirees. In ruling that a bank is prohibited from deducting pension amounts from a joint account to settle a loan delinquency attributed to a single account holder, the court directed State Bank of India to gibve back Rs 5 lakh to Mr. Mallick, a pensioner.