bank illegally deducting amount from my account for last 8 years with unknown name in the statement?

Question

Recently I noticed bank illegally deducting amount from my account for last 8 years with unknown name in the statement. When I spoke to them, I was shocked knowing they were illegally deducting the amount. They opened Mutual fund account without my knowledge, and starting deducing every quarter. In my busy life, I couldn't talk to them, and found it was around 110 bucks initially. Recently I found they deducted 268 bucks, and shocked, when I enquired them, I came to know they are illegally deducting for last 8 years.
 

Answer 1

Hi Ravi,

I am not able to understand how you could not detect the regular deduction from your account for the last 8 years. In any case, from your explanation, it seems that you have been cheated. Please follow the below steps :-

1.    Go to your Bank’s website and search for grievance redressal (or similar name) button and submit your complaint online furnishing the details.

2.    If you do not receive any reply / satisfactory reply within 10 days, lodge your complaint with the Nodal officer of the Bank (either through email or letter)

3.    If you do not receive any reply / satisfactory reply within 10 days from the Nodal officer, lodge your complaint with the Principal Nodal officer of the Bank (either through email or letter)

4.     If still not satisfied with the reply / do not receive reply from the Principal Nodal officer within 10 days, lodge your complaint with the Banking Ombudsman within your jurisdiction (either through letter or email), whose website is https://bankingombudsman.rbi.org.in/