Consolidated DP Charges Deduction without my approval?

Question

Hi, I have a Salary account in Hyderabad. I want to inform that they are deducting amounts in the name of "Consolidated DP charges " from my account without informing me. I didn't get any notification for that. When I called the customer care they informed that it is deducted because of the Demat account, but noting is linked with my SB account. I am going to close the account asap. I request you to take necessary action if possible.

Answer 1

Mr Mahipal,

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 query / complaint / grievance in respect of financial services.  This site does not belong to any Bank or a Regulator, which may please be noted. 

The Consolidated DP charges are debited on monthly basis for the Demat transactions. If you are not having any Demat account linked to your salary account, please inform the home branch to reverse the charges debited to your account. Further, ask them to delink the Demat account so that charges are not levied in future. You may escalate the matter to nodal officer - grievances whose coordinates (contact) would be available on the Bank's website. If you do not get satisfactory response from the nodal officer, you may approach Banking Ombudsman/Consumer Forum for redress all of your grievance.

Regards

Deepak