Fraudulent transaction by hdfc bank rm

Querist : Anonymous (Querist) 04 February 2012 This query is : Resolved
Dear Experts,

A friend of mine went to HDFC Bank to make deposits. The RM falsely sold regular premium ULIPs to him saying that he has to deposit money only once.

Only after receiving reminder for payments, he came to know that he has been cheated.

What recourse he has on bank and the RM ?

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Pradeep Rohra (Expert) 04 February 2012
First of all you must have to give notice to the bank and after that file a Consumer Complaint for Unfair Trade Practices under Consumer Protection Act 1986.

Devajyoti Barman (Expert) 04 February 2012
Can't answer the query, sorry.

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