Bank unfair practice
tushar
(Querist) 11 May 2016
This query is : Resolved
I had account in axis bank and they made fixed deposits of amount wthout my consent 6 years back.i agnored that time,but when I remember this it makes me uneasy.
In oct 2015 they upgraded my account and simply increased minimum balance. I was abroad and got message on my mobile that maintain balance. when I asked relationship manager she told ignore meassge and they started deducting money for non-maintenance of account.
now I closed account. but want to file case. is it possible to file case. please guide.
dr g balakrishnan
(Expert) 11 May 2016
you ignored at the appropriate time to be questioned; so you tacitly approved their action ; how can change that position sir? y you have no case, of breach of contract.
Kumar Doab
(Expert) 11 May 2016
1. FDR's without consent?
2. Upgrading a/c without consent?
3. Deducting charges without consent?
Look into the mandate of your a/c, if you have a copy or obtain a copy.
Bank is under obligation to follow RBI guidelines that have statutory force and you may also pursue;
RBI Master Circular on Customer Services
BCSBI Code
IBA guidelines
Fair Practices Code
Rajendra K Goyal
(Expert) 12 May 2016
Bank did FDR of your amount without your consent, you did not objected after knowledge, got your account statement / passbook completed. It means you accepted the action of Bank which was beneficial to you.
Banks fixes minimum balance to be kept in the account in absence of which penalty would be charged, fact is available on Bank site.
In spite of getting message, you did not maintained minimum balance / asked to break FDR and to maintain balance. Is the Bank at fault when you failed to maintain minimum balance.
What is meant by up-gradation of account?
