Complaint - Civil Line, Allahabad — Misselling?

Question

Dear sir, This is Ramaraju Mahanthi, I am account holder of your bank. Last year axis bank two employees came to my house and they given a demo about new saving bank account.
1. zero balance saving account if i open with amount 100000/- (one lakh rupees)
2. one time investiment of rupees 50, 000 like fixed deposite. in this liquidity of amout is available whenever i need. after opening my account again they came and they told about fixed deposite for 3 years... so deposited 50, 000 rupees as a fixed deposite. after 2 days they came and told me that we devided 50000 rupees in two 25000 each., because of my benifit.
description : ZERO BALANCE ACCOUNT
1. after few months i got a message from bank for non maintainance charges 250/-... same happened every month...
2. i realised they mis communicated with and opened my account.
descritpion : POLICY MATTER
1. after one year need money for other investiment. i went bank, then i came to know about this investment is in maxlife insurance policy. And this is not single time investment, and also locking for 20 years and regular 6 year investment plan.
2. there is no liquidity ...
The bank manager Mr Masood Abbas know their employees faults, dragging my issue and they wants to protect their employee.
This issue going on last 3 years onwards… I am helpless. I am discussed with nodel officer no use. 
My Policy no
1. 877127738
2. 886604883
I am requesting to you sir, 
1. reversal of all non mantanance charges.
2. cancel this type of investment and provide my 50, 000 rupees.

Answer 1

Dear Ketan,

At the outset, let me clarify that this site is designed by a group of senior Banking Professionals to assist Bank Customers at large to provide guidance for resolution of any complain/query/grievance in respect of financial services. This site does not belong to any Bank or a regulator, which may please be noted.

I suggest you to take up your case with the Banking Ombudsman without wasting further time and energy. While writing to the BO please provide information in a sequence. Like, date when Axis Bank officials visited you;  the exact products sold; your account number etc. Copy of Fixed Deposit Receipt or Insurance Policy documents received from the bank should also be enclosed to your complaint. 

Further, the efforts made by you to get your grievance addressed by the bank and responses of the bank should be narrated in your complaint. Copies of communications exchanged between you and the bank and vice versa are to be attached to your complaint to the BO. 

I am sure the BO will redress your grievances. In case you need any professional help to represent you before the bank or the BO, you can approach us. 

For address of the Office of the Banking Ombudsman, Area of Operation (jurisdiction) and the procedure for lodging complaint, you may access the website https://bankingombudsman.rbi.org.in/

 

Regards

 

J R Mohandas