Slamming the officials of Punjab and Sind Bank for misappropriating the hard earned savings of a senior citizen, the Supreme Court has directed the public sector bank to forthwith pay Rs 15.50 lakh to the victim. The apex court at one stage wanted to impose a huge penalty on the bank for harassing 83-year-old Uma Shankar Bhatt, since 1997, but relented after its counsel gave an undertaking that the amount would be paid within four days. <br/>In this case, Bhatt, who was 71-year-old at the relevant time, had deposited his life savings of Rs 15 lakh with the bank's New Tangra Branch Kolkota between 15th May , 1997 and 30th May 1997.<br/>However, Bhatt was shocked when on October 27, 1997 he realised that his entire amount was unauthorisedly transferred from his current account to that of a stranger M/s Bajrang General Traders on June 6, 1997.<br/>According to the victim, the amount was transferred without any cheque or authorisation letter issued by him.<br/>