Unwanted transaction without my consent and information?

Question

I have a Demat account in bank for 2 OR 3 years now. When I checked my bank transactions and I found that there is one debit transaction of ' DP CHGS TILL AUG-14'---- INR 570.62' second debit transaction of ' DP CHGS TILL AUG-15'---- INR 570'. When I created the Demat account, I was not told about the DP charges, it was told me by the ICICI representative that it is free of cost and it will never be charged and also I did not get any message alert in my mobile which is registered with mobile banking with This is completely unacceptable and please refund my amount.  email sent to customer service but they didnt revert back.

Answer 1

Dear Pritamoriya

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

Demat account carries annual maintenance charges and charged annually by all the banks.  Even if some concession is extended, it could be generally for the first year only, unless you / your employer has some agreement with the bank for waiver of such maintenance charges.  Still, if you have not made use of your Demat account and ICICI Bank has assured you so, please approach the base branch with a written request for reversal of the charges under acknowledgement.  In the absence of any positive response from the branch, you may also email the complaint to their management.  If the ICICI Bank grievances redressal cell too is silent, you can further approach Banking Ombudsman.

RAJA