A shocking banking dispute has emerged from Mirzapur, Uttar Pradesh, where bank officials allegedly refused to release gold pledged against a loan, even after the entire outstanding amount was repaid and the claimant presented the necessary documents.
The controversy began after a man took a gold loan and reportedly named his nephew as the nominee. Following the man's death a few months later, the nephew approached the bank to claim the pledged gold, carrying documents to establish his entitlement.
However, instead of resolving the matter, the bank staff allegedly continued to reject his requests.
Bank Changes Its Stand Over Gold Release
According to the account, the bank officer initially claimed that the nephew's name was not registered as the nominee. When the young man produced documents showing his nomination, the officer reportedly changed the explanation, insisting that the gold could only be handed over to the deceased borrower's legal heir.
Determined to resolve the issue, the nephew subsequently brought his aunt to the bank. However, the staff allegedly refused to cooperate even after her arrival.
Loan Repaid, But Gold Still Withheld
The nephew reportedly argued that the bank should follow the applicable Reserve Bank of India (RBI) guidelines and release the pledged gold after completing the required formalities.
He also ensured that the entire outstanding loan amount was repaid. Despite fulfilling the repayment obligation and submitting the necessary paperwork, he allegedly failed to get possession of the gold. The bank employees reportedly continued to refuse his request, leaving the family frustrated and helpless.
‘We Don't Feel Like Giving You the Gold’
What made the incident particularly shocking was the alleged response of the bank staff. According to the account, employees openly claimed that they did not follow RBI rules and told the nephew that he would not receive the gold.
Their alleged response was even more startling: "We don't feel like giving you the gold, so we won't give it!" The incident has raised questions about banking accountability, customer rights and the handling of pledged assets after a borrower's death.
The allegations have not been independently verified, and the bank's response is awaited. The exact nomination records and applicable succession requirements will be crucial in determining the rightful claimant.