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Vasundhara Singh (Student)     20 June 2021

Bank fraud

I have a savings account ICICI bank which was a zero-balance account. After lockdown, I stopped keeping funds in the account and whenever I used to put money, the bank people used to cut it saying they are POSDEC charges. I tried to enquire the same with the bank, ombudsman from the RBI, and got no help. Till now they are putting the fine saying that I have subscribed for some service but that is not true. Where can I complain against the bank and claim compensation for the loss?

 6 Replies

G.L.N. Prasad (Retired employee.)     20 June 2021

You have not followed the correct process.  File a complaint before the ICICI customer care online and get a certified copy of your opening form, the explanation for debiting service charge, the request from you to avail such chargeable service, and total service charges debited in a student account.  Wait for 15 days and then file an online complaint to Ombudsman.  Unless you give a complaint and explore the chances with ICICI, BO may not entertain a complaint. 

SIVARAMAPRASAD KAPPAGANTU (Retired Manager)     20 June 2021

Everything needs to be in writing, including E mail. First, complain to the Bank concerned and get their reply. If you are not satisfied with their written/E mail reply, you can file a complaint with Banking Ombudsman. You can file the Complaint with Banking Ombudsman online. Please utilize the following link. You may fill up the required details as prompted in the following link:

Shubham Bhardwaj (Advocate)     20 June 2021

Dear Ms Vasundhara, 

In the present set of facts, you may do the following:-

1. Write a complaint explaining all the facts to the Branch Manager. . In the complaint, apart from other things, include request to show which document authorizes the bank to levy such charges, and request for refund of amount illegally deducted from your account. Also mention that this complaint be treated as notice for the purposes of Consumer Protection Act, 2019.  Send a copy of the same to the regional manager . You can easily get the number /e mail address of the Regional Manager on the web site of the Bank.

2. Wait for at least 10-15 days. Then send a reminder to the branch manager as well as regional manager. Wait for a week.  If the problem is resolved no further action. 

3. If the problem is not resolved, file a consumer complaint in the District Consumer Dispute Redressal Commission. It is very simple and you can appear your self. In the consumer complaint pray for refund of amount illegally detailed, along with compensation of Rs 25000/- and legal litigation cost of Rs 4000/-. DO NOT ASK FOR UNREASONABLE COMPENSATION SUCH AS Rs 1,00,000 or so. 


Shubham Bhardwaj (Advocate)

District & Session Court, Chandigarh

Punjab & Haryana High Court, At Chandigarh




Disclaimer:- The above opinion is only for guidance. 

Dr J C Vashista (Lawyer)     21 June 2021

File a suit for mandatory and permanent injunction against the bank to set aside the fine or service charges policy and refund of money charged . 

G.L.N. Prasad (Retired employee.)     21 June 2021

The queriest being a student, maintaining Zero balance account, should not spend hard-earned money of parents, should weigh pros and cons involved, and always try to settle the issue with least costs of less than Rs100/- in total when the charges involved may not be more than Rs1,000/- in savings bank account  There are alternate remedies like Banking Ombudsman and Consumer forum after getting evidence of documentary evidence from the bank.

T. Kalaiselvan, Advocate (Advocate)     22 June 2021

The complaint with the banking ombudsman seldom fetches a fruitful result.

The banking ombudsman is as good as a deaf man.

Hence after getting the reply in black and white from the bank's branch manager in this regard, if the statement furnished by the bank in this regard is unjustified  or ultra vires, you may directly take legal action against the bank's unfair trade practice before the district consumer commission, where you will get a decision  that who is right and what went wrong in your side.



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