ICICI Bank - A bad experience for many
April 27th, 2005 at 10:16pm
I had only verbally heard about the bad experiences people are having with ICICI Bank, but this just proves it!
Came across this page (do read it! - opens in a new window) via madman’s page.
I have a account with ICICI bank because its our salary account, and we are kind of forced to use ICICI Bank. And since we have a salary account, we get a decent service. But yes, the credit card department, and the call centre sucks big time. That’s my personal experience.
They put you on hold for 5 to 10 mins. (just imagine listening to the same junk music/tone/adverts continuously), and then there is no guarantee that you will get to speak to someone or your problem would be solved. Infact, today I was put on hold for around 7 mins, and after that the call as abruptly disconnected!. Next time I call the call center, I get to speak to a totally new person, and start from scrap describing the problem. The people at the call center just promise to do things, and nothing actually happens. If it happens, then you are really your luck.
Hope K V Kamath reads this!.
My advice to all - Avoid ICICI as far as possible. Many people predict that the bank would collapse in a few years from now. Have a account with any nationalized bank.
Personally, I have an account with SBI and keep a minimum amount in ICICI.
Tags: bad service, bank, bank accounts, complaints, Credit cards, customer care, customer service, customers, escalation, ethics, goondas, icici, icici bank, icicibank, india, popular, private, problems, rowdy, service, unethical
Entry Filed under: Life, Useful Stuff
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Pingback by Virus From ICICIDirect « That mad mad world!! — October 10, 2007 #
Complaints on “ICICI Bank Credit Card”
Read more complaints on this Company
ICICI Bank Credit Card
Posted: 2007-10-06 by Viaks Dharkar [send email]
ICICI bank using false commitment to sell Issurance policy
Complaint Rating:
ICICI bank credit card cheated with me by using Free policy of lombard, I got call from sales Exec regarding a free policy of Lombard of Rs 20 Lacks, I she told me taht this policy is absulatly free for good cust like u, I was not sure on the I recirded that call & ready for the same, But when I received my statement on on 25.09.07 I come to know that I was cjheated by ICICI bank coa they ask me to pay Rs. 945/- per month for next 12 month, Then I contacted to cust care dept but they also not responding properly & avoided my call through disconnecting the line each time.
Viaks dharkar
Comment by vandemataram07@gmail.com — October 7, 2007 #
ICICI Bank Credit Card
Posted: 2007-09-19 by Sandeep Thadhani [send email]
Issue with the settlement since last 3 years
Complaint Rating:
I had used the card and kept paying the minimum due amount on time and one day i decided of going for a settlement of my card back in 2004 and i met one of the manager for this. At that point my outstanding was close to 28000/- and because of my good payment history i was told that i can close it for 25000/- and few hundreds which i don’t remember clearly, I agreed for the settlement and at the same time i paid 15000/- in cash for which i have the receipt and for the remaining i was told some would come and collect a cheque or cash at my residence as i needed two weeks to pay the remaining amount, But nobody showed up and i had to travel to mumbai for 8 weeks but i had left a cheque at home so that if some one showed up they could collect and close the card but that never happened. After few months somebody came to my doorstep and started using abusive language for the balance and then i was told to meet someone at the collections department (Basavgudi)and i was told that i need go for a new settlement and after 2hrs of argument we agreed to close it for 11000/- and i had close to 8000/- in cash which was collected at my door step and the balance was supposed to be collected by some collection agency in a weeks time but that didn’t happen and now i receive a statement saying i owe close to 17000. Where in as per the agreed term i was suppose to payback only 3000+ to close it. I tried getting in touch with the same manager after i few weeks but i was told that he moved to some other branch in mumbai and i had lost my patience and decided to not to entertain them any more and no body bothered me for close to 8 months and one fine day some collection agency guy came home and spoke to my mother in a very filthy language and when i asked that guy to speak to me and he just asked me to come down to collection office and when i asked him about the language being used i was threatened saying things could get worse i didn’t show up at the collections office. I have written complaints after complaints to ICICI bank and they say they can’t do any thing as its gone to collections agency. In the mean time i had to travel out of bangalore for a while and when i came back i received a legal notice from a solicitor and i called him up to explain about what was going on and i was given a collections manager number for bangalore and i when i called up and spoke about it, in a very rude voice i was told to come down to office so that they can deal with me. My whole point is that if i wanted to default why would i opt for a settlement and pay close to 23000 where the original settlement figure was 25000 change.I have told time and again that i will pay a maximum of 4000 and not a penny more because you just can’t go harassing a customer with abusive language.
I have a personal loan for the last 2 years and 6 months with ICICI and a life insurance policy with the same bank and i have never missed any payments on them.
Advise what should i do smb!
Comment by vandemataram07@gmail.com — October 7, 2007 #
Megha Sood and Debasish Panigrahi, Hindustan Times
Email Author
Mumbai, September 28, 2007
First Published: 01:24 IST(28/9/2007)
Last Updated: 01:34 IST(28/9/2007)
Bank pays Rs 15 lakh to dead customer’s wifeAfter being threatened and harrassed by recovery agents of ICICI Bank for not being able to pay the instalments on his Rs 50,000 loan, Prakash Sarvankar, a resident of Andheri (East) hanged himself 10 days ago. On Thursday, the bank agreed to pay his wife Priyanka Rs 15.50 lakh as compensation.
Prakash had written a suicide note, blaming the recovery agents for his death. He had been jobless for the last six months.
On Thursday, Priyanka received a letter from the bank stating that she would get a fixed deposit of Rs 10 lakh at 9.5 per cent interest for 59 months. There was also a Rs 25 lakh life insurance policy as well as a Rs 4 lakh medical cover for Priyanka. Her daughters got Rs 3 lakh each as medical cover.
An ICICI official said, “This is a gesture on our part to the deceased’s family. Investigations will reveal where the lapse was.”
© Copyright 2007 Hindustan Times
Comment by vandemataram07@gmail.com — September 27, 2007 #
Hindustan Times dated26 september 2007
CONSUMER PANEL IMPOSES RS 85000 FINE ON ICICI BANK
New Delhi,september 25, Expressing seriou concern over rising complaints of wrongful debiting of money from credit cards, the Delhi State Consumer Redressal Commission has slapped a fine of rs 85000 on ICICI BANK FOR HARASSING A CUSTOMER OVER TRANSACTIONS HE NEVER MADE.
LT Col Rajesh Yadav who had a savings account with the bank in delhi was issued a debit card.After its expiry he had applied for a renewal.But the bank Yadav said never issued a card.Then one fine day he was shocked to find that an amount of RS 45623 had been debited from his account thriugh renewed card.The vouchers cited several purchases.
Delhi STATE Consumer redressal Commision President J D Kapoor saidThe ICICI BANK has commited the grossest kind of deficiency of service in raisingfalse bills without proving delivery of the credit card.Such practice which is on the rise is causing immense mental agony and harassment.These hapless customers are constantly living under the threat of recovery of the amount by yhe bank employing musclemen and goonda.
Comment by vandemataram07@gmail.com — September 26, 2007 #
Printed from
Banks must end goondagardi: SC
22 Sep, 2007, 0954 hrs IST,Sanjay K Singh, TNN
NEW DELHI: Taking a serious view on the use of muscle power by banks and financial institutions for recovering loans, the Supreme Court on Friday observed that they cannot engage ” goondas ” to harass people.
There is a rule of law that must be adhered to by banks while recovering loans, the apex court said. It was hearing an ICICI Bank appeal seeking removal of certain observations by the Delhi High Court while ruling on the case of a defaulter who had allegedly committed suicide due to harassment by banks.
A Bench comprising Justice Tarun Chatterjee and Justice Dalveer Bhandari said though banks have a right to recover their money, they cannot engage goondas to harass people.
“There is a rule of law in this country. Banks and financial institutions are not immune from the rule of law,” remarked Justice Bhandari. The court has fixed October 1 for ruling on the case.
Advocate Surat Singh, on behalf of the complainant—the mother of the deceased, said loan recovery should follow a process of law. Banks cannot be allowed to hire musclemen for the purpose, said Mr Singh.
However, ICICI Bank, through its counsel UU Lalit, sought expunging of certain observations made by the high court.
The high court had observed that the proximate cause of death (suicide) of a young man was humiliation by the bank from where he had taken loan.
Comment by vandemataram07@gmail.com — September 25, 2007 #
ICICI is the worst bank i have seen in my life.
The people in coustomer care are worst morons.
I am not able to login the idiotic internet banking and it always says password error.
I called those morons and you know what they answered me?
“you entered the wrong password sir”
If she was in front of me i would have definitely kicked her ass for an answer like this.
One another moron offered to reset the password and you know what happened
wrong password again.
I filled in the forgot password form online and when i click submit you know what happens?
“page cannot be displayed”
if i have access to the ceo moron of ICICI I would think of the worst torture possible on this earth and bestow it upon him for all the rest of his life.
ICICI morons die in hell. may your flesh rot and get eaten by worms when you are alive.
Comment by kernel — September 8, 2007 #
New Unfair Trade Practice by ICICI Bank…
They have started charging Rs 25 (+ service tax) on physical statement on current accounts, without informing in advance !!!
So this way, this month they earned, suppose there are 1 Lakh current account holders, then Rs 28 Lakhs… in an unfair manner… this is how this bank works… :p
Comment by Ankur Raheja — July 28, 2007 #
Banks can’t lift cars of loan defaulters: SCThe Supreme Court on Friday questioned the private banks’ right to lift vehicles of loan defaulters and sell it later. The division bench of Justice B.N. Aggarwal and Justice P.P. Naolekar said: “You cannot take possession of the vehicle by force and then sell it. Your powers have been defined by the Supreme Court. How can you employ force to recover the loan?”
The judges said the banks have to follow the law and not resort to the use of musclemen. It refused to stay the execution proceedings in which ABN-AMRO bank has to pay Rs 71,000 to a woman. Earlier, in a complaint against the ICICI bank, the Supreme Court had strongly deplored the growing tendency of the banks indulging in using strong arm tactics against defaulters for recovery of loans.
While hearing ABN-AMRO’s petition, the bench issued notice to the woman, Sangeeta Srivastava, and asked her to file a reply.
The bank has challenged the judgement of National Consumer Disputes Redressal Commission that had directed it to pay the money to Srivastava. The Commission had observed that there was deficiency of service on behalf of the bank.
Srivastava had moved the district consumer forum challenging the alleged forcible seizure of her Tata Indica car by the bank for default in paying the installment of the loan.
The bank not only allegedly seized the vehicle but also sold it later.
The district forum had asked the bank to pay Srivatsava Rs 71,223 that was upheld by the State Consumer Forum and then by the National Consumer Disputes Redressal Commission. ABN-AMRO has now claimed that there was no notice issued to the bank and it did not receive a chance to represent its side of the story.
© Copyright 2007 Hindustan Times
Comment by vandemataram07@gmail.com — July 27, 2007 #
Don’t you just hate those pesky telemarketers who call you at all hours of the day? Come September 5, you might just be rid of them.
The Centre on Friday told the Supreme Court that the National Informatics Centre was in the process of setting up a ‘National Do Not Call Registry’ to tackle the menace of unsolicited calls to mobile phones. Additional Solicitor General PP Malhotra submitted before a Bench headed by Justice A.K. Mathur that the Telecom Unsolicited Commercial Communications Regulations, 2007 had already been notified and the whole mechanism would be operational from September 5. Interested parties could register themselves with the Registry.
However, the Bench — hearing a petition filed by advocate Harsh Pathak, seeking a ban on all unsolicited calls — was not satisfied. Terming the regulations as “toothless”, it said that unless there was severe punishment, it would not be effective. As an example, the Bench pointed out that a pesky call in the United States costs the service provider $1,100.
The court was also not agreeable to the proposed system of subscribers registering to avoid calls, saying it was not practical. Instead, it suggested that only those interested in entertaining such calls be registered as their numbers would be fewer. Agreeing that the calls were a menace, Justice Mathur complained: “Even I received a call from a private bank for a loan.”
On behalf of private phone operators, counsel A. Sundaram submitted that the new system being set up would check the menace. Sundaram and the ASG requested the court to let the government experiment with the new system. The court asked the Centre to file an affidavit detailing the latest steps taken by it to check the menace within two weeks and posted the matter for hearing on September 21.
© Copyright 2007 Hindustan Times
Comment by vandemataram07@gmail.com — July 27, 2007 #
[...] yields close to thirty thousand results.It ’s a matter of great shame that dedicated websites exist to redress our issues with [...]
Pingback by How to deal with ICICI « E-Nagar — July 23, 2007 #
Man I had the similar experience…
http://shocking.wordpress.com/2007/07/20/open-letter-to-icici-bank/
Comment by ankur — July 23, 2007 #
Name & Address of Banking Ombudsman
Area of operation
Shri.G.C.Agarwal
C/O Reserve Bank of India
M.G.Road, Post Box No.82
KANPUR 208001
Uttar Pradesh (excluding Ghaziabad District)
Shri.S.K.Soni
Jeevan Bharti Building
Tower No.1, 7th Floor
124, Connaught Circus
NEW DELHI 110011
Delhi, Haryana, Jammu & Kashmir and Ghasiabad District of Uttar Pradesh
Shri.P.V.A.Rama Rao
C/O Reserve Bank of India
Hoshangabad Road
P.O.Box No.32
Bhopal 462011
Madhya Pradesh
Shri.B.K.R.Rao, I.P.S.
C/O Reserve Bank of India
10/3/8, Nrupatunga Road
BANGALORE 560002
Karnataka
Shri.S.A.Rahman
C/O Reserve Bank of India
New Office Building
Sector 17, Central Vista
CHANDIGARH 160017
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Shri.S.A.Hussain
C/O Reserve Bank of India
6-1-56, Secretariat Road
Saifabad
HYDERABAD 500004
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C/O Reserve Bank of India
South of Gandhi Maidan
Patna 800001
Bihar
Shri.H.N.Das, I.A.S.
C/O Reserve Bank of India
Station Road, Pan Bazar
GUWAHATI 781001
Assam, Arunachal Pradesh, Manipur, Meghalaya, Mizorum, Nagaland and Tripura
Dr.Sitakant Mahapatra, I.A.S.
C/O Reserve Bank of India
Pandit Jawaharlal Nehru Marg
BHUBANESWAR 751001
Orissa
Shri.R.Ramalingam, I.P.S.
Challa Mall, 8th Floor
11/11A Sir Thyagaraya Road
T.Nagar, Chennai 600017
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Shri.S.L.Bose, I.A.S.
C/O Reserve Bank of India
15, Netaji Subhash Road
CALCUTTA 700001
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Shri.S.A.Kamath
C/O Reserve Bank fo India
La Gajjar Chambers
Ashram Road
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Shri.C.Harikumar
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THIRUVANANTHAPURAM - 695033
Thiruvananthapuram
Dr.M.C.Bhandari
C/O Reserve Bank of India
Ram Bagh Circle
Tonk Road, P.O.Box No.12
JAIPUR 302004
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Shri.J.R.Prabhu
C/O Reserve Bank of India
Garment House
Ground Floor
Dr.Annie Besant Road
Worli
MUMBAI 400018
Maharashtra and
Comment by vandemataram07@gmail.com — July 16, 2007 #
Good, old passbook stages a comeback
Joel Rebello
Saturday, July 14, 2007 13:33 IST
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But it will be very different from the conventional ones
MUMBAI: Following a Reserve Bank of India (RBI) direction to banks to offer passbook facility to customers, foreign and private sector banks have started offering the facility to desirable customers.
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The RBI issued the notification on October 4 last year.
The central bank move was prompted by complains from customers and senior citizens.
“It has been pointed out that the decision to discontinue the passbook system has been taken by the banks unilaterally, causing inconvenience to the account holders,” the RBI said.
Banks had given a representation to the RBI through the Indian Banking Association, discouraging passbooks.
However, the central bank notification has forced banks to offer passbooks to customers.
So, banks like Standard Chartered, HDFC and ICICI which didn’t have the service earlier have offered customers the passbooks option.
“Customers who opt for a passbook can call for one,” said Murali Natrajan, regional head, consumer banking, Standard Chartered Bank.
However, banks are asking customers to make a choice on whether they want a passbook or a statement. HDFC Bank has sent mails to saving account holders, asking them to fill a form indicating their choice.
The passbooks will be different from the old ones. “It will be a clipped file of statements, put together, unlike a PSU bank’s passbook, and the customer will have to go to the branch to update it,” said an HDFC Bank official.
Page 2 of 2 (Jump to page 1)
Private-bank customers have a choice of either choosing a passbook or a mailed statement. They can’t ask for both. Private bankers expect very low demand for passbooks from customers. “We don’t expect more than 20% of customers to use this facility,” said the HDFC Bank official.
Demand from passbooks is expected mostly from senior citizens. “All our branches offer the passbook facility. We have special accounts for senior citizens, which anyway give passbooks,” said a UTI Bank official.
Centurion Bank of Punjab, on the other hand, has the facility in only 72 of its 279 branches and is looking to extend this facility to all branches, said Harpreet Singh, business director, wealth management, distribution and loans.
However, private and foreign banks still see it as a step back. Bankers are wary of the costs and possibility of crowds at branches to update passbooks.
Interestingly, PSU banks have a different take on passbooks. They continue issuing passbooks to customers as they see it as a preferred medium.
“In my experience, passbooks are the most preferred medium for customers. But, it is more expensive than statement of accounts. State-owned banks issue passbooks, but naturally we would like to create a habit for statements, since they’re cheaper,” said Union Bank chairman and managing director M V Nair.
State Bank of India, on the other hand, gives out only passbooks, but does not give an account statement. “Net-savvy customers can download the statement from the internet. Passbooks are also a proof of residence,” said an SBI official.
Comment by vandemataram07@gmail.com — July 15, 2007 #
Printed from
The Times of India -Breaking news, views. reviews, cricket from across India
Banks can’t use force to recover dues: HC
13 Jul 2007, 0000 hrs IST,TNN
SMS NEWS to 8888 for latest updates
LUCKNOW: In a significant order, the Lucknow bench of Allahabad High Court on Thursday ruled that a bank, private or nationalised, cannot use force, hire hooligans or gangsters on contract to recover the loan amount.
Hearing a writ petition filed by Vishal Gupta against the ICICI BANK, a division Bench comprising Justice Pradeep Kant and Justice D P Singh asked the bank and its officials to explain as to why appropriate criminal and civil proceedings should not be initiated against them for forcibly taking away the vehicle and for allegations mentioned in the petitioner’s application submitted to the SSP.
The Bench said if there was any such policy in place, the bank should produce it on the next hearing on August 6. Besides, the bank was also asked to clarify the mode of payment and the manner in which such persons were employed and paid, whether on contract basis or commission basis.
In his petition, Vishal Gupta had said that he took loan for a car from the ICICI BANK and committed certain default in its repayment. As a result, the bank officials forcibly took away the vehicle by employing musclemen on June 28. Gupta claimed that the bank now intends to sell off the car. The applications and approaches made to the SSP Lucknow failed to yield any results, he claimed.
Taking note of these facts and the practice of realising the default amount forcibly through musclemen, the Bench observed that the law of the land cannot be given a go-bye and life and movement of property of an individual cannot be put to ransom nor his movement can be restricted against the provisions of law.
Meanwhile, following petitioner’s readiness to repay the loan of Rs 1 lakh, the Bench directed the bank to deposit the amount and return the vehicle forthwith. The Bench SC’s judgment in case of ICICI Bank Ltd Vs Prakash Kaur and others, wherein the apex court had deprecated the conduct of the bank in employing thugs/hooligans/gangsters-on-contract.
According to experts, if the debtor fails to repay the defaulted amount the financing party can only sue the defaulter under civil proceedings to realise such amount.
Comment by vandemataram07@gmail.com — July 13, 2007 #
Complaints on “ICICI Bank”
Read more complaints on this Company
ICICI Bank
Posted: 2007-06-28 by Kumaravel.j [send email]
Poor service!
Complaint Rating:
Re: ICICI Bank
There are issues that I am facing through your bank, due to which it is causing me mentally disturbance. Here I am giving the issues as follows:
1. Credit Card Balance Transfer Problem (BT Ref No. 1505077331829)
May Month I asked the balance transfer from Credit Card No.4477 4636 4429 4007 for Rs.50, 000/- (Rupees Fifty thousand only) and the credit limit for this card is Rs.56, 300/- but when I received the next month statement there is no entry regarding this balance transfer amount. I am holding one more credit card no. 377 0403 8414 8004 and the credit limit for this card is Rs.10,000/- only and when I received this month statement I was shocked to see that the balance transfer amount entry is given in this credit card statement with all your banking charges. As per your banking rules no one can get more than 80% of the credit limit as balance transfer but in the statement it is showing 5 times more balance transfer of the credit limit. How can that be possible? In this regard I had talk with your customer care help line, but they are not giving me the solution in regard this problem, every one takes the note of the problem and tells that they will have a talk with their higher authority and get back to me taking my contact number, but still I have not received any call from u r banking persons. I have a note of the persons too whom I had a talk and told them the issue and they noted and told that they will call but no response here I am giving you the details of few persons with whom I had talk are as follows: DEEPAK-BOMBAY on 13th June 2007 at 12.15 PM, SOWPNA-HYDERABAD on 13th June 2007 at 4.00 PM, GANESH- BOMBAY on 18th June 2007 at 12.00 Noon.
2. PERSONAL LOAN Problem (PL Ref No.LPCHE00010564363)
I got a preapproved personal loan call from your bank in reference of my Credit Card No.4477 4636 4429 4007 for Rs.5,00,000/- (Rupees Five Lakhs only) with 1% as Service Charge Plus Service Tax Extra, but when I received the loan amount I got only Rs.4,88,764/- with 2% Service Charge Plus Service Tax less the amount. In regards to this issue when I had a talk with u r customer care help line number no body is giving response in this regard. Even after this I have not received any documents in regards to loan repayment date and schedule. I have a track of persons who were behind this forgery of 1% Service Charge plus service taxes are as follows: SRIKANTH- SALES MANAGER LOANS from ALWARPET BRANCH - IVCH, CHENNAI. HIS CONTACT NUMBER 9940097469, RAMESH – TEAM LEADER CONTACT NUMBER 9841174024, N.SEBASTIAN - SALES EXECUTIVE CONTACT NUMBER 9841291513.
Comment by vandemataram07@gmail.com — July 11, 2007 #
Subject: RE: Credit Card
Dear Mr.Dhananjaya
Dear Mr.Umesh,
Dear Ms.Sangeetha Kotwal,
Ist really pathatic to wrie you guys again and again.All in icici is sleeping …
PATHETIC CUSTOMER SERVICE !!!!
Its better to write to Mr. K.V. Kamath, Managing Director, as you guys take lot of time in just getting my job done..
Last mail… next will go to press…
Its takes.. minutes to forward the same to Media…
Lets see who closes case first.
See this is my current story………
One guy came to my office and I filled the application form and submitted all the required documents as requested.
App# s060200563518
when i called your Call Centre executive replied there is no such records and even with my mobile number or office number not able to trace my resords.
I got one refrence number SR19855606 and i was told within a week my request will be processed.
This is my bitter experience till now and only GOD knows what will happen after i get a credit Card…
This will be my last mail to you guys………..
Regards,
Sarvan
Comment by Sarvan — July 11, 2007 #
Dear Mr. Sebastian,
Please go through this forwarded mail from bottom to top.
Big Drawback of ICICI bank is their credit card division . Very few persons are the lucky enough to have it hassle free .
See for a credit card how much an existing customer is suffering.Like me there were hundreds and thousands of other ICICI customer’s dis-satisfied with your service.
I had applied for a Credit card twice and submitted all the required documents as requested.
For the first form i got the response ” YOU APPLICATION MISPLACED BY US PLEASE REFILL” and for the second one ” YOUR FORM REJECTED AND WE WILL NOT DISCLOSE THE REASON AS PER COMPANY NORMS” after 6 months please re-apply.
Yaar Please go through my S/B account statement see how many transactions i did till now..
What’s happening BOSS ??? You people really want to GROW ?????????? If this is you service then i m very sorry to say you are WINDING UP your business.
I was at chennai for more than 3 years. Now i came to Andamans and send a mail to your Customer Care but getting the response go to your nearest branch fill a form or call customer care. i want to know why ???????? if i m giving you my change of address in written then why should i again call or go to branch ?
As here is no branch except one ATM.
And there is no words to describe your Centralized Customer care at HYDERABAD, the way your IVR works , the way your CC executives tells scripts and the Hold procedure wah WONDERFULLLLLL.
Now a days i started spending some half an hour time every week in writing mails to you.
Please feel the pains of a Customer give a SOLUTION instead of copy pasting existing templates to every mails.
A Warm Salute to ICICI Customer Service
Regards,
Sarvan
Comment by Sarvan — July 10, 2007 #
Dear Sir(Sumit),
We are concerned by the issues raised by you. Please give your contact details on 91 22 26536377/8027 or write to escalations@icicibank.com, to resolve the issue.
We are confident we can help you.
Sincerely,
Service Quality Manager
Comment by ICICI Bank Service Team — July 3, 2007 #
I got a reply………….
Dear Mr. Kumar,
With reference to our telephonic conversation regarding the cheque, we understand that your query is attended.
We are unable to process your request received through e-mail for updating your communication address in our records, as e-mail is not a safe medium to update sensitive account information.
Please place a request for the address change through any of the following options:
a) Call ICICI Bank 24-hour Customer Care and place a request after authenticating yourself by entering your 16-digit ATM/debit card number and 4-digit ATM/debit card PIN (Personal Identification Number).
b) Visit any branch and submit an application. You may also send across a duly signed application to the branch.
c) Please obtain the Address Change Request Form from our website http://www.icicibank.com/Pfsuser/channels/oct_05_crf1.pdf
or from any ICICI Bank branch or ATM.
Note: If the account is opened less than six months back, we request you to place a request for address change at the branch where you have the account along with an address proof.
Please mention the phone number if any, to be updated along with the communication address.
Note: If you have placed a request for address change at the Customer Care center we will be unable to process a request for deliverables at Customer Care for a month from date of address change request placed.
Sincerely,
Harini Elizabeth
Customer Service Officer
ICICI Bank Limited
“ICICI Bank introduces 9.5 % interest p.a. on a 890 day Fixed Deposit. SMS FD to 676766, Eg. FD JAY ”
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Comment by Sarvana Kumar — July 2, 2007 #
Dear All,
I am writing to you on behalf of my Saving Bank A/C # 602201516877.
On 26th June i was credited Rs.10000 and the same was updated in my account. I got a sms for the same in my Hutch 9884534418 though i registered my new Airtel # 9933231567 over website it didnt came in Airtel.
on 27th June i have withdrawn Rs1000 from Port Blair ATM and the balance was left with Rs.9000.
On 28th i got a sms in hutch# informing Rs.10,000 was debited because of RTN of CHQ my account current balance comes to ” 0 ”
I want to know if a person puts a cheque of 10000 in my account and the cheque bounce back then all my current balance already there will be debited ?????
If its an inbound cheque to me and if it bounce back there there should not be any changes in my current balance that i know as per my understandings.
Again on 29th Morning i m receiving a sms your account credited with Rs.10,000/- and balance comes to Rs.9,000/-
I want to know whats happening there why you take LKG staffs to update customers Ledgers.
Now i got shocked after i saw again Rs.56/- debited and balance is INR 8,989.50.
Tell me the reason for debit and the reason to disturb me mentally.
I need compensation for this and forward this mail to your MD Mr.Kamath he should know whats happening below him. There is no provision to write to him in the icicibank website.
Inspite of updating my contact no its not updating in system better remove that option from website to reduce customer tension.
My postal address and contact number is changed.
M.Sarvana Kumar
Saravana Store
Indra Market
Mayabunder
Andaman & Nicobar Islands - 744204
Mobile - 09933231567
Regards,
Sarvan
1 29/06/2007 333020 O/W RTN 28.06.07 DR INR 56.00
2 28/06/2007 333020 CHQ RTN FOR EXCEE DR INR 10,000.00
3 28/06/2007 . CR INR 10,000.00
4 27/06/2007 ATM/CASH WDL/20070627212507/0 DR INR 1,000.00
5 26/06/2007 BY CASH CR INR 10,000.00
Comment by Sarvana Kumar — July 2, 2007 #
Re 761: You said “This is the first time an incident of death had occurred with one of our customers, and we didn’t know how else to help.”
Really?! Wow! Your customers gain immortality and the price is just putting up with really crap customer service. Wow!!
Comment by Colin Angus Mackay — July 2, 2007 #
This is in reference to the recent news reports of the demise of Mr. Y. Yadaiah, a defaulting ICICI Bank loans customer in Hyderabad, and the spate of comments on this blog.
1. Ladies and gentlemen, let us emphasize that we are an intrinsic part of the community; and our employees are from all socio economic backgrounds – backgrounds similar to those of some of us blogging here. So we have similar emotions and therefore all of us feel the same way. Our employees as individuals have a conscience too, and our employees frame and implement policies.
2. We must say that in this case, THE REALITY IS FAR DIFFERENT FROM WHAT HAS BEEN REPORTED. The agency in question has been working with us for over a year, and has no track record of any issues. The agency’s version is that the customer was sitting in the reception area and collapsed. The customer was a defaulter by seven months. He had left the original address and had gone untraceable for many months. Our agency traced him out at the new address. His wife was at home. She informed the customer. The customer came to the agency’s office make payment. While there, he just collapsed. Our collection agency had not even touched him let alone done anything to hurt him. They are categorical in their denial. It may be a natural death (perhaps illness or otherwise before going to the agency’s office); we don’t know. In fact, the agency used their presence of mind and took him to a private hospital nearby and also called the police. This is our understanding at the moment. Investigation continues, and we will get to know more when it’s completed.
3. We are not sure whether this is known, but even without our getting into the facts of the case, and pending any investigation, we paid the customer’s family an ex-gratia amount of Rs. 15 lac. This was a good gesture made merely because this was a rare and serious incident. This is the first time an incident of death had occurred with one of our customers, and we didn’t know how else to help. At that stage, whether the agency was at fault or otherwise, we just didn’t know. We had the agency’s pleadings and strong denials. Logic seemed to tell us that nobody could be killed, period. Yet to provide whatever solace money could, we paid this amount voluntarily and instantly. This does not in any way suggest any implication of the agency.
4. Now for a generic comment; not particularly related to this case. When an incident like this happens (whether because of the fault of the bank or otherwise), many vested interests, even from outside the family, begin to play a role. Many actually educate the family that if they stick to a claim or a particular line of argument, they could extract money by threatening the bank that they would go to the media and so on. We have heard of many instances where unscrupulous people have struck deals with the party concerned to partake in settlements. There are instances when a vehicle was repossessed by us, and the customer said that he was going to allege that “goondas” and musclemen were used and that the car had Rs. 1 lac in it. The media loves a story like this as it makes nice headlines. When our people indignantly tell such defaulters, “You know this is not true”, the customer / his advisor responds with, “I know it’s not true. But I will raise it with the media… you explain to them.” This, unfortunately, is the reality. Once a story breaks, many others pile on to it (precisely what the extortionists want), and then it becomes a sequence of arguments and counter-arguments. Well-meaning people like you feel outraged.
We must say therefore say that certain defaulters misuse the power of publicity. It would be unfair if we said there are never any issues. There could be, but they are the exception. Certainly, none as serious as this. This kind of thing is not endorsed by anyone. We put systems in place to ensure that complaints are looked into, the root cause understood and then take action if we find there is a lapse by any agency.
5. So what do we do now? We train our collection agencies very well. We have an extremely well documented code of conduct, which is practised by our agencies. Our employees themselves go through this code of conduct. This code of conduct is based on international best practices. We have systems and audits to check that our employees practise it.
6. We are in a service industry. We treat collection as a service. One can never be rude in a service industry. Our supervisors tell their employees, “If we don’t treat our customers well, we can’t remain in the service business.” We understand this very well. They all understand this. All talk of goons in reports is completely unfounded and misplaced. These terms are conveniently used by defaulters to put pressure on the banks.
7. Given the present regulations pertaining to debt recovery, collection agencies are an integral part of the Indian banking system. Outsourced collection agencies are the way collection is done the world over, including in developed countries like the USA. Collection agencies aid the banking system in maintaining low levels of bad debts, which ensures that banks are able to keep lending activities going and the cost of loans low.
8. It is also our responsibility to bring out the implications of these kinds of tactics by defaulters. After decades, Indian banks have started lending to the lower end of the economic pyramid. Organized banking in India is just about taking root. The loan that this customer took – called small personal loan – is targeted at customers with income of Rs. 3,000 per month. Customers belonging to this profile default more. The lower-income group is today starving for credit and availing of loans from unorganized markets and private financiers. There are many instances where rates are in the region of 100% to 365% per annum. In the case of some unorganized lenders, it’s even higher. Fruit vendors for example borrow under a scheme called “9-10 Scheme”, meaning, they borrow 9 rupees in the morning with the condition that they return 10 rupees in the evening. That’s 10% per day. Annualized, this works out to over 3,600%! Well, incredible, but true. Some of these segments do default more. For example in the urban areas, the loss rate for home loans is only 0.2%, for car loans, 1%, but in this category of small personal loans, it is 10%-15%. These loans have a tendency to have such collection-related incidents, because you’ve got to make proactive efforts to collect the dues from them.
When such issues are blown out of proportion, there will be a tendency among banks to clamp up and lend to the better economic strata only. This is not good for the welfare of the lower-income segment. You may say you don’t care, just focus on the issue now at hand. But please spare a thought before you say that. When good brands and an organized banking system enter this market, it will bring the lower-income segment into the organized banking grid and help them meet their credit needs. Over time, with good repayment records, they will get loans at lower rates from the banking system.
9. We must point out the following also:
· ICICI Bank has given loans to 30 lac (3 million) customers for small amounts ranging from Rs. 4,000 to Rs. 10,000. We must explain that these customers are entering the banking system for the first time. It’s easy for us to stay away because in absolute portfolio “value” they may not add up to much. Yet, we have chosen not to.
· We are opening over 1,000 accounts every day, in the lower-income segment, in far flung areas like the North-East, West Bengal and Orissa.
· We are giving them a platform to make remittances, saving them very significant monies that they pay to intermediaries.
· We are providing loans to low-income segments through some slum-dweller associations.
· Our subsidiary companies (though they are independent companies) have provided health insurance to over 20 lac people, at an insurance premium of under Rs. 1,000 per year for a family of five, in a model that we believe will be sustainable.
10. We know we have a lot more to do. A lot of what is described above is delivered through channels and their partners. We will continue to face issues as we explore the models. And when we succeed, the payoffs to India, the common Indian and the lower economic strata will be very significant.
All the same, we are sure we will face issues. For example, who knows we may face issues from the intermediaries delivering loans to any one or more of the 30 lac customers described above. If we get lambasted in this manner, we will be forced to clam up. You may say, “Put better systems in place.” We agree. We are trying our best controls and the result is the low percentage of complaints. Despite our best efforts, some incidents may happen. In such cases, we need your indulgence and encouragement.
11. We collect dues from millions of customers every quarter. Because our systems are good and audited, these incidents are very, very rare. And that too sometimes misunderstood or misrepresented as in this case. In fact, we put so much focus on good collection practices that they meet the Six Sigma standard on complaints and escalations on collection issues. We have a service culture ingrained in our team. We sincerely request you to trust us on this one, as we are acutely aware that we are in the service industry.
12. We are striving to be a global bank, and a globally respected bank at that – a bank that India and Indians will be proud of. We will build it with, and only with, the goodwill of our customers and the community around us. We need your support, we really do. Without your support, we can’t go far. Please don’t haul us over the coals at the first available opportunity; this is our humble request. We are doing our best to bring world-class banking to India, and to take banking to segments that have never experienced banking before. Meanwhile we need your indulgence, encouragement, and support in our initiatives to reach this segment.
We understand your feelings. We feel the same way. We are one of you.
With sincere wishes to all of you well-meaning people,
ICICI Bank
Comment by Official comment from ICICI Bank regarding a customer’s demise in Hyderabad — July 2, 2007 #
Here is a recent story.
Y Yadaiah, 42, an electrician in the state medical and health department, had defaulted on a Rs 15,000 personal loan he had taken from ICICI Bank a few months ago.
Police inspector G Narasaiah said one Raju from Elite Financial Services — the loan-recovery agency which has a contract with ICICI Bank — along with some others, picked up Yadaiah from his office on Friday. Sunanda, the wife, said
Yadaiah had called her up sometime later, saying the recovery agents had detained him at their office. “He was told he would not be allowed to leave until he returned the money,” she said. Around 2 pm, Sunanda received a message from a hospital saying her husband had died.
Then ICICI Bank comes back and says this.
The ICICI bank said on Sunday that the 42-year-old Andhra Pradesh government employee, who had taken a loan from it, died after he felt “unwell” at the office of its debt recovery agency in Hyderabad.
One would be inclined to give benefit of doubt to the bank but then if you also see this then you start thinking what kind of bank is this, people go there and start dying like flies.
This is the second incident in the last month in Nashik, where a person lost his life due to al leged harassment by recovery agents.
Suresh Chaudhari, a 54-year-old mechanic, died on the premises of ICICI Bank on January 13. His family alleged that the death was caused due to harassment by agents. The police filed cases against three ICICI Bank employees.
Recovery tactics employed by banks are increasingly coming under the scanner. The SC, on January 7, had strongly deplored the practice of financial institutions using musclemen to recover loans from defaulters and asserted that recovery of loans should be through legal means.
Some more.
Close to a fortnight after the Supreme Court deplored the use of musclemen to recover loans from alleged defaulters, 42-year-old computer engineer Manish Rajguru passed away due to the alleged use of strong-arm tactics and mental harassment by recovery agents of Nashik Merchant Co-operative Bank.
“We were facing increased harassment from the banks employees as well as the recovery agents deployed by the bank during the last one month. Manish had been tense and nervous due to the behavior of the recovery agents who would barge into our house and abuse us. The tension proved too much for him and yesterday he suddenly collapsed and passed away. I hold the bank responsible for his death,” Manish’s wife Dr Devang Rajguru a MD in Pathology told HT.
Manish’s death was caused by cerebral haemorrhage. Manish is survived by two children and a cancer afflicted mother.
Not that it is an isolated incident. Here are some more barrage of cribs.
I cant help but credit ICICI bank for coming up with the punch line “hum hain na” apko loot ne ke liye…
Here is one more.
The very next day he had deposited the cheque in his account in the ICICI Bank, Mayur Vihar. When, after a few days, he checked with the bank, he found the cheque had not been credited to his account. He immediately contacted Vijaya Bank, Noida, which had issued the cheque.
Imagine Manoj’s shock when he learnt that the cheque had been encashed. It was found that his name had been struck off and that of `Suresh Kumar’ had been written instead. The overwriting on the cheque had been clearly endorsed by fresh signature of the issuing person at two places.
Manoj has lodged a complaint with the Noida as well as the Delhi police while bank officials are maintaining a silence on the issue.
Here is another laundry list of problems.
But one things has to be said about them, they are not racist. They are trying to cheat every country equally. See here.
There are several reasons. The main one is that, despite having a presence in the UK for three years, ICICI Bank still do not comply with the UK Banking Code, which sets minimum standards for customer service. The second reason - related to the first - is that there is a load of anecdotal evidence that customers are still struggling to receive passwords, to have money transfers happen on time and of people generally tearing their hair out trying to get their savings sorted.
So, in the end what do I have to say about it. You become a customer of ICICI bank, they will abduct and get you into their office and then you will die and it will be a natural death. Why senior management of the bank are not taken to task for doing such goofy things. Why are they above law. At times I feel that reason that they have grown so much is because they are above law.
Here is another bright idea that I have, if you take loan with ICICI bank then take a really large pure term insurance policy also with them so that if they claim in the end that your death was natural, they would atleast have to pay for it.
Permalink
Comment by vandemataram07@gmail.com — June 27, 2007 #
Rs 6 lakh gone in demat fraud—hindustan times dt 27.6.2007
If you are an investor in shares and sittinhg pretty under the impression thatb your stocks are safein your demat account think again.Two businessmen recently found that shares worth rs 6 lakh had vanished from their demat accounts though the delivery instruction books in their possession were intact.
P shiva kumar and b raju both from karimnagar district have lodged a complaint with the sr reddy police station alleging that they have been defrauded of of their shares held in two demat accountsin the local branch of the stock holding corporation of india ltd.(SHCIL).
Comment by vandemataram07@gmail.com — June 26, 2007 #
[...] Here is another laundry list of problems. [...]
Pingback by Welcome to avasthi.com blog » Banks and killing machines — June 26, 2007 #
I opened an account with ICICI on 17th May. I gave a $xxx check on 17th as an account opening check. This amount has not yet reached my account.
I called ICICI to find out why the amount had not reached my account. The experience I had are as follows
(a) I was told it takes 21 working days for the check to be credited to my account. Therefore the amount should have reached my account on 18th June. Then I was informed that since “ICICI” submitted the check on 8th June therefore it would take 21 working days from that day for the amount to reach my account. The fact that ICICI was reckless in handling my check and kept it on its desk for couple of weeks is not my fault. The delay was on the ICICI side not mine.
(b) When I called ICICI they told they will log a request only when I give them the check number. Being in India it was fairly difficult to securely access my US bank account and get the check number.
(c) Once I logged the complain I was in formed I would be contacted in 24 hours. I was not contacted for the next 48 hours. I had to call back ICICI.
(d) When I asked the person on the other side of the phone that I need to talk to the manager, he (Kiran Kumar) assured me that the manager was on another line and would contact me in the next 1 and 1/2 hour. I was not contacted at all.
So the moral of the story is ICICI SUCKS to the very core.
Comment by Sumit — June 26, 2007 #
File case on ICICI, AP cops told
The Andhra Pradesh Human Rights Commission on Tuesday ordered the assistant commissioner of police of the Panjagutta police limits to submit a report on the death of a man who was allegedly confined by agents of a debt recovery firm appointed by ICICI Bank
Talking to media persons in Hyderabad, the APHRC chairman Justice Subhashan Reddy said taking suo moto cognisance of media reports, the commission had ordered the police to submit a report on the death of Yadiah and register cases against the bank.
Yadaiah, a 42-year-old state government employee, died two days ago after allegedly being confined by the agents of Elite Financial Services for not repaying a loan of Rs 15,000, which he had taken from ICICI Bank.
Source @ http://www.rediff.com/money/2007/jun/26ap.htm
Please avoid taking loans from ICICI Bank…
Comment by Ankur Raheja — June 26, 2007 #
701
ashish,
I am glad that yu have benefitted from my info.If we have to teach this rotten bank a lesson by imposing costs on them for stealing money from the account of hapless customers.The only thing these private banks are afraaid of is negative publicity.Though internet is good medium to reach the audience however my personal view is that newspapers leave a more lasting impression and have a bigger reach.
For a start I am giving e mail address of THE HINDU where victims of icici bank can send their complaints;
WSINS@THEHINDU.CO.IN.—-mail should be marked READERS MAIL And must carry full postal address of the sender.
This website is also very helpful in lodging complaints against icici bank,
http://WWW.CORE.NIC.IN
http://WWW.CONSUMER-VOICE.ORG
011-24379078-79-80-81
1800-11-4000(TOLL FREE NUMBER)
Comment by vandemataram07@gmail.com — June 25, 2007 #
dear satvinder.
You have not given correct e mail id .I had sent a mail and it bounced.Please provide correct e mail ID.
First of all you should write to kamath.kv@icicibank.com.If your problem is not solved write to all the national dailies.You should move to court only after this.
Also log on to mouthshut.com to read 500 excellent experiences with icici bank.
Comment by vandemataram07@gmail.com — June 25, 2007 #
Hindustan Times dated 25.6.2007
MAN KILLED OVER LOAN BY ICICI BANK:WIFE
Hyderabad june 24;
The wife of a man who died on friday has filed a complaint with the police alleging that he was tortured to death by agents of a debt recovery firm having a tieup withICICI BANK.
Y>YADAIH,42,an electrician in the state medical and health department, had defaulted on a rs15000 personal loan he had taken from ICICI BANK a few months ago.
POlice inspector g.narasaiah said one raju from Elite Financial Services –the debt recovery agency which has a contract with ICICI BANK—-along with some others ,picked up YADAIAH from his office on friday.Sunanda,the wife,said yadaiah had called her up sometime later, saying the recovery agents had detained him at their office.HE WAS TOLD he would not be allowed to leave until he returned the money,she said.Around 2 p.m sunanda received a message from a hospital saying her husband had died.
On saturday the police registered a case under sections 342(wrongful confinement) and 304(culpable homicide not amounting to murder) of the IPC against raju.
Comment by icici bank bharat chodo — June 24, 2007 #
The ICICI bank and it’s services are bloody fraudulent. They just want to fetch the money from the people who do not know much. I took a personal loan of Rs. 50000/- and I was made bound to purchase a Lombard Policy with it worth Rs. 450/- without asking me whether I need that or not. Secondly the service charge was taken from me and no receipt of that was given to me. If it is a service then the service tax should have been taken form me also. It means that the bank is not only deceiting the customers but the Govt. of India also. It is malpracticsing in business. I asked the bank to provide me the copy the agreement but it did not turned up to send it. It is mandatory according to the fair business practice to provide the copy to the customer whenever an agreement is made. I am fed up and going to stop making payment to this nasty bank. I am filing a case in the court of law. Kindly let me know is there anyone who want to join me. kindly contact at satvindersingh@military.com
Comment by Satvinder Singh — June 23, 2007 #
Please find below the details of the agony that I’ve been through to open an A/C with your bank. I’m still struggling to get it (Demat A/C) activated.
I’ve tried to open an A/C with your bank and applied for the same on 16/3/2007. I got a confirmation that my application was rejected on Tuesday, May 01, 2007 12:36 PM stating the reasons:
Scheme Form Not Cleared
Applicant’s Signature Is Not Across The Photo
I re-applied again and sent a mail on Friday, May 25, 2007 01:26 PM to find out the status of the application as I was not intimated regarding the status after I re-applied. I received a reply and another mail which gave me the status of the application that it was rejected for the following reasons:
Reply stated(Saturday, May 26, 2007 11:06 PM):
i. Applicant’s signature is not across the photo.
ii. Applicants address details require on form
iii. Demat account holders signature differs on in person verification seal and other pages of account opening form.
Another mail stated(Tue 5/29/2007 12:41 PM):
i. 1st Joint Holder’s Signature Does Not Match Between Proofs And Declaration Page
When I pointed out the differences in the mails for the same A/C on Thursday, May 31, 2007, 03:04 PM then I received a mail on Sat 6/2/2007 4:58 PM stating that they would look in to the issue and get back to me.
On Mon 6/4/2007 11:28 PM, I received a mail confirming that the bank has accepted the application and the account opening process would be completed at the earliest. I breathed a sigh of relief but that was for a very short period.
On Mon 6/11/2007 3:11 PM, a mail confirmed that my A/C has been opened with the bank on 05-Jun-2007. I received a reply e-mail on Thu 6/7/2007 9:51 AM stating the pin-mailer containing the user ID , password and other details has been sent to the address on June 04, 2007.
On June 15, 2007, 03:08 PM, I confirmed that I’ve not received the post yet via Email. On Saturday, June 16, 2007 10:48 AM, I was informed that it was returned for the reason Out OF Delivery Area but in fact I received the post on the very same day.
I sent out a mail on Saturday, June 16, 2007, 02:20PM to confirm that I received the post. I tried to activate my A/C on 19th June using the details that I received through the post but it was not possible. I tried to do it once again but in vain. It was not successful.
I called up the bank to check the problem. I explained the situation to the executive regarding the activation of the A/C and I was amazed to find out that there was another pin-mailer generated without my knowledge (which I could confirm as I received an Email regarding the same on Sun 6/17/2007 3:08 PM and I checked the email after I tried to activate my A/C). When I questioned him about the details for re-sending another pin-mailer, he put me on hold and then disconnected the call. I tried contacting once again, and I asked for the name of the executive on the call but they do not seem to give out their names, which is very unusual. I’d to wait for 5 minutes each time I called to get connected to an executive and then I was disconnected when I questioned them about the details which happened twice. This kind of behavior is very unethical and I would assume that you would not prefer this kind of service level. Now, I’ve to wait for another week or two to activate my A/C which is really a painful experience.
To add on to the agony, the bank sent the cheque (Opening Fee) which was dated 16/3/2007 to encash the amount from my other bank A/C without informing me. The cheque bounced and I’d to pay Rs.308/- as a penalty for a cheque of Rs.250/-. None of your executive has contacted me for the same yet.
I would like to sum up that I’m not clinging to any hope for a better service as I’m aware that this mail would not be responded into an action.
The processes are not streamlined right from the application to customer care.
Any business would rely on a good Customer Experience for success.
It would not be fair for me to comment on the future of your bank but there should be something to put the process into a right track.
Demat A/C#: IN303028 – 54360129
I’ve sent a mail to Mr. Kamath and other email IDs from ICICI.
Comment by Vishnu B Giri — June 21, 2007 #
There has been a recent consumer court judgement, which say in case u receive disturbing marketing calls very often from Banks or Telecom companies, approach consumer court and you will be awarded minimum compensation of Rs 25,000…
In the said case, huge penalty was imposed on Airtel and also on ICICI bank… :)
Good Luck !!!
Comment by Advocate Raheja — June 20, 2007 #
RBI Is Listening Now
So, bank customers should make the most of it by voicing their problems
Over the last one year, the Reserve Bank of India has launched three initiatives to bring some checks and balances in the way banks deal with customers and the fees that they charge them. Firstly, the role, function and authority of the Banking Ombudsman (BO) has been enlarged under the 2006 scheme allowing it to take on record complaints forwarded by the RBI without requiring the customer to approach him separately. Secondly, the RBI is encouraging customers to send in complaints directly to the RBI Governor’s office or to a designated Chief General Manager, whose email ID is cgmdbsmro@rbi.org.in. I have been repeatedly assured that the RBI Governor Venugopal Reddy and Deputy Governor Ms. Usha Thorat personally look at consumer complaints and are keen to empower the customer. A third action has been to set up a Working Group to formulate a scheme for “ensuring the reasonableness of bank charges”.
These actions are welcome, but the variety of complaints that I receive everyday from MoneyLIFE subscribers and others suggest that banks will always be running ahead of the regulator in coming up with initiatives that work wonderfully, when things go right, but turn into a nightmare for customers when there is a problem. This is often because the smart executives at private and foreign banks are sketchy in their knowledge about banking procedures and far too much of the bank’s work is outsourced.
I have received over a dozen letters in the last fortnight about problems with Cheque Drop Boxes, which are installed at every bank and it’s Automated Teller Machines (ATM). What started off as a fantastic convenience that allowed customers to avoid bank branches and deposit cheques anywhere, has often turned into a tool of harassment, because it dis-empowers the customer and leaves him/her without proof of transaction.
One reader says that his credit card payment got credited after 12 days and the bank charged him late fees. Another says a foreign bank simply lost the cheque and advised the customer to issue stop payment instructions. Meanwhile, it had bounced a cheque issued by him 22 days after he dropped a cheque in a drop box.
Businessmen are worst affected because it delays cheque processing and credit. In April this year, angry businessmen wrote to the Finance Minister asking him to direct banks not to force them to deposit cheques in drop boxes, when it is drawn on the same bank. In all cases the new banker’s motto is that the customer will always pay a price if things go wrong or if they want quick service.
Citibank’s Suvidha account holders have to pay Rs 100 for every branch transaction and Standard Chartered has introduced a Rs 99 charge for teller payments since March 2006. This means you pay extra for quick processing or safety. There are court judgements that hold banks responsible for cheques lost in transit, but only if there is a proof of receipt.
Well, one solution is to use banks that have a cheque deposit machine. This is available mainly at metro branches. ICICI Bank, for instance, has Drop Boxes as well as check deposit machines at many branches. They give you a rough and sketchy receipt of deposits made. HSBC however has an impressive and modern cheque deposit machine at its Mumbai main branch. It is easy to use and scans the cheque to provide a detailed receipt.
Clearly technology based solutions are available, but banks wont introduce them unless the RBI mandates them. This will happen if enough customers write to the RBI and demand safety of transactions by providing alternatives to drop boxes without usurious cost attached to this service. Separately, the RBI will have to address complaints from businessmen about delayed credit by directing small banks to accept certain category of cheques at the branch without an extra charge.
Ms. Dalal is the Consulting Editor of MoneyLIFE. Subcribers get free help in resolving their problems with select providers of financial services. She can be reached at sucheta@moneylife.in
Comment by icici bank bharat chodo — June 19, 2007 #
From JULY 2oo7,ICICI BANKwill charge RS50 per transaction for cash transaction exceeding 12 in a quarter at base branch.
ICICI BANK STOP DAYLIGHT ROBBERY.
Comment by icici bank bharat chodo — June 18, 2007 #
Anoop Feb 3 Beware of ICICI highly degraded services
I would like to draw your attention towards the worst services provided by ICICI. You might be wondering what is the purpose of sharing this information with all of you? The fact is, I have faced too may incidents in recent past that shows too much degraded services from ICICI and it’s not only me but many of my friends do share the same feeling.
It is good to share it with all of you in order you to be aware of, what you could expect from ICICI, if planning to be their customer in future. If any of you do have similar experiences, share it here. I think, we must bring all these issues publicly to stop their nonsense. At the beginning ICICI representatives come to us very friendly with all other similar tactics and with time, they don’t care. The main problem in ICICI is no co-ordination at all, false information etc. I am talking about ICICI in general, meaning – ICICI Bank, ICICI Direct, ICICI Prudential. Due to these facts, I have wasted so much time in India and here including some amount of money spent in courier etc. Inspite of all
these efforts, everyday one or the other person from ICICI come up with new story. I think, they are bunch of idiots.
Two such examples-
Wrong Information
1. One person says your wise invest account will be suspended if PAN details are not provided. Send us the form & we (ICICI) will take care of that in Rs. 500.
2. Second person says after sending the form; the wise invest account doesn’t need PAN details. So, we (ICICI) will not process your application.
False Commitment
1. A person from ICICI prudential communicates to me(during trip to India) a guaranteed return of 5 Lacs after 10 years if I take their some ULIP policy which requires 50K deposit for first three years.
2. I was quite suspicious about his claim. So, didn’t proceed with that. Later, I understood it is Assured return and not guaranteed return. Meaning, I could get this amount only if I don’t survive during the policy. I will get the face value, otherwise.
Anoop Feb 3 Continued - Beware of ICICI highly degraded servic
This time during my trip to India, I have noticed that State Bank of India a public sector bank has excellent services especially for NRIs. I do have account with HDFC and very much satisfied with their services too.
Friends, we should pass on this information to as many as groups and friends. This will be in favour of people planning to start relationship with ICICI as well as it might push ICICI to work on it.
Anonymous Feb 3 Anurag - Beware of ICICI highly degraded services
From: “Anurag”
Subject: Re: [indians_in_switzerland] Beware of ICICI highly degraded services
To: kamath.kv@icicibank.com
CC: nri@icicidirect.com, nri@icicibank.com, “Roopesh Kumar” , “Anoop Gupta” , indians_in_switzerland@yahoogroups.com
Mr. Kamath,
Can you pl. look in to this issue.
I too ICICI bank customer and now planning to close my account and move to SBI.
Pl. take action. If need any help or coordination , don’t hesitate to contact our group.
Note : if you guys don’t get any reply, pl. send mail to all your friends and other groups to share our expereince.
Thanks
Anurag
Anoop Feb 3 Anoop-Beware of ICICI highly degraded services
From: ” anoop31@yahoo.com >
Subject: Re: [indians_in_switzerland] Beware of ICICI highly degraded services
To: indians_in_switzerland@yahoogroups.com
CC: nri@icicidirect.com, nri@icicibank.com, kamath.kv@icicibank.com
Hi,
I am happy to see the over whelming response in regard to this thread. This definitely indicates how many of us are ICICI victim. They are taking existing customers as granted. The most important thing is to keep this thread alive and to share it with as many as people we know.
The exchange rate issue is quite a grey area and profit making for a bank. Let’s say if ICICI is receiving requests of about 200,000 USD each day and they manipulate them by just 50 cent/USD. ICICI will be profited by 100,000 USD/day.
The other issues (bring me to this level of frustration) encountered with ICICI are mentioned as below.
1. During my trip to India in October, I had visited ICICI, Lucknow in regard to up-gradation of my wise invest account to DEMAT account. The NRI services counter re-directed me to DEMAT account counter. I was again re-directed to another counter from there. At that counter, the person re-directed me to another branch. Next day, I had visited that branch. There was very third class customer service there. After several minutes, a madam - Pallavi came to address my issues. She knew nothing about NRI cases. So, she gave me some silly explanations and requested me to come again.
Anoop Feb 3 Anoop-Beware of ICICI highly degraded services
Continued…I went to the same branch after 2-3 days. This time Pallavi said, she doesn’t have NRI opening DEMAT account form. So, asked me to come again. I took the branch contact number after refusal of giving the mobile number. The number belonged to some one else when I tried to contact her. I was so surprised with that; I called ICICI customer service and lodged a complaint about the same. I visited the branch again. Pallavi keep me waiting for several minutes. Then, she gave me the same answer of not having NRI opening form. This time she said, a customer executive will contact me soon. I asked her to give me the right contact number as well. She gave me some number which I tried immediately from my mobile to check it. The number was not working. After this embracement she gave me the right number. I waited for customer executive to contact me for next 2-3 days. I contacted Pallavi after having not been contacted by this branch. At this moment, Pallavi said, she has lost my contact details and asked me to give it again. I provided the same. She promised me, a customer executive will approach me today by 2 PM. I waited till then but no one approached me & neither any call. I called Pallavi again…….being told a person has already left for visiting me. I waited till 5 PM, but the same thing. I called Pallavi again…..being told person become busy in meeting at last moment. So, he will come around 7 PM. I waited till then but the same thing…………..no one even contacted me since then.
2. Furthermore, No one in this branch told me about mandatory PAN requirement when I visited ICICI Direct branch three times in October. Just after returning to Switzerland, I received an email about it. I acted on it immediately and had sent the all the completed forms to ICICI by DHL courier. I didn’t get any response from them in regard to that for more than 3 week inspite of my several reminders. After escalating the issue too much, I received just one email, PAN requirement is not mandatory for WISE INVEST acco
Anoop Feb 3
Comment by icici bank bharat chodo — June 18, 2007 #
How to tackle ICICI
showing 1-1 of 1 first | | last
Anoop Jun 4 How to tackle ICICI
Hi,
It is true ICICI has worst customer services in India. It is better to expose ICICI in front of public using these forums and other sources. You may start writing complaints to following ICICI contacts as well as put RBI and other authorities in cc. This will put pressure on them. It is also better to bring the facts to media. In many cases it is better to lodge a FIR against ICICI staff and head of ICICI- Mr. kamath.
Don’t count on info. provided by ICICI staff on such forums!!! You may also find thousand of ICICI victims by just searching(ICICI sucks) on Google search engine.
You may contact Suman Das, Head customer service or/and following other email id’s.
suman.das@icicibank.com
coo@icicibank.com
kamath.kv@icicibank.com (K.V. Kamath - Head of ICICI)
You may ask RBI intervention as follows. Here is link for filing complaint in banking obudsman.
Link to Banking_Ombudsman_Scheme.pdf
But make sure that you have escalated to Nodal officer before filing complaint in banking ombudsman. Also here is contact details of RBI officer for further assistance for Mumbai Region.
Shri N Sadasivan
C/o Reserve Bank of India
Garment House, Ground Floor
Dr. Annie Besant Road, Worli
Mumbai - 400 018
Tel. No.:022 - 2492 4607/2496 0893
Fax No.:022 - 2496 0912
Email: bomumbai@rbi.org.in
You may also contact media as per information below in regard to issues raised in past including yours.
bleditor@thehindu.co.in
thehindu@vsnl.com
etonlineeditor@indiatimes.co.in
letters@business-standard.com
feedback@moneycontrol.com
editor@expressindia.com
editor@ibnlive.com
ttedit@abpmail.com
db.dutta@deccanherald.co.in
vp@deccanherald.co.in
Just FYI, the two best private banks emerged are HDFC & Standard Charetered. SBI is in one of the best public sector banks.
Regards,
Anoop Gupta
Comment by icici bank bharat chodo — June 18, 2007 #
Multiple Banking Need Of The Hour
By: avinash.murkute | Feb 28, 2007 08:06 PM
Pros: Personalized service will bring bankers to new heights
Cons: Adamancy in banking is negative force.
Hi,
If you rely on one banker then chances are you are taken granted at times. After having experienced services of various nationalised as well as private bankers, I firmly advocate that - please enjoy multiple banking and avoid any risks. Let me outline few bad experiences and try to ascertain best policies.
ICICI BANK: Requested complaint book and they made me wait for 2 hours and it took 30 minutes for a lady to decide whether to accept the complaint or not. And it took 6 months for ICICI bank to reply on complaint which was misplaced by them. Naturally I shiftedmy banking preferences. They refused to attend the complaint once. But everytime ICICI executives called me for FD, home loans, car loans, credit cards, I asked them to bring status of complaint pending with the bank and they eloped. I remember once the lady said I am calling from ICICI bank XYZ branch but I am sorry that I donot know the name of the branch manager. Obviously they find me in DNC i.e. do not call registry.
ICICI BANK HOME LOANS: I strongly feel that each document you submit for availing HL should be retained by you. Ask copies of applications. If anybody promise you to sanction loan on particular date and if your plans are like that only, ask in writting on ICICI letter head signed by branch manager that cheque will be disbursed on date DDMMYYYY. Well do not write letters or complaints to Head Service Quality, they do not write anything. Writing iron is really misssing at ICICI bank. Hum hain na……anaemic.
HDFC BANK: Multiple bill on debit card. It takes 2-3 days to reverse the transaction for payment gateways. But it took 35 days for HDFC bank after filling card dispute form and follow-up legal notice. The moment legal notice was sent, branch manager called up to inform that Rs. 110 has been reversed. Off course sweetness in trust and relationship is also reversed.
HDFC BANK: Demand draft will be issued only by presenting cheque leaf for salary account holders. It was news to me that cheque can not be issued by accepting cash payment. Branch manager says we take decision on case to case basis, means they change rules on case to case basis. So salary account holders, if you carry cash…first deposit in your account, then fill up dd issue form, present a cheque and get DD.
SBI: Earlier they were very adamanat, but I find them very attentive and responsive. Particularly I observe a sea change at higher level. E-mails are attended, replies are sent. But when it comes to reply any wrongdoing by branch official they will take a nasty way and even reply wage answers to application filed under RTI. I remember DGM SBI BHOPAL said I have not received documents and I slapped certificate from postal department that article was delivered to him. This was case of government refund order.
Canara Bank: They billed Rs. 11.23 thrice for one transaction. I hardly understand that what one can purchase of Rs. 11.23 in feel good days of congress government. I am trying to enquire what these charges are and they are having one response: They must be swipe charges. But I have good sentimental relationship with bank so I am not taking the issue keenly with Canara Bankers. But downtime of Canara ATM is very high, on the contrary if ATM is working that means you are lucky…hence I cant totally depend on Canara. I remember I took out money from BoB as Canara ATM was dead on my ring ceremony. Hope this ring ring in Canara Bangalore HQ.
Local co-op bank 1: Cheque not cleared for 35 days. Follow-up said, wait for 3 days, wait for 3 more days, and finally what can we do, we have lost it. Written complaint was filed and full compensation was asked with CEO of bank whose manager was adamant till yesterday. Today he came to know that compensation can be recovered from his salary so adamancy was lost. Then they started blaming RBI so RBI was approached and finally cheque was traced and honoured even after expiry of its validity.
Local co-op bank 2: Account closure charges Rs. 164 as round figure. Transaction reversed, only 50 Rs. were charged but one can understand that banker can change past transactions also in their favor.
Well, all above are negative experiences, either I am a negative person or subject is like that only. Any sensible banker will understand the pains suffered by customers. How happy I was when I was presented a DD within 3 minutes of application at SBI Pune. So what is good is good and bad will remain bad.
Hope good wins and bad is always condemned like one I am doing.
Regards,
Avinash Murkute
Bribe still not paid to BSNL CMD
Comment by icici bank bharat chodo — June 16, 2007 #
Complaints on “ICICI Bank”
Read more complaints on this Company
ICICI Bank
Posted: 2007-06-01 by Vineet Bhupendra Yadav [send email]
ICICI - the worst bank in India
Complaint Rating:
ICICI – THE WORST BANK IN THE HISTORY OF INDIA
I would request you to read right through till the end because this is one long email about the atrocities suffered by me from ICICI Bank over the last 2 and a half years.
Being rude is the biggest principle on which ICICI Bank survives. It all started with a credit card being sent to my Home address by ICICI without my consent. The biggest mistake I did ever in my life was to open the envelope and use the card. On further investigation I found out that such credit cards were sent very often to 3G employees because a 3rd Party agent named Kamal used to roam around 3G (Spectrum Towers – Malad). Nevertheless, it was my fault because I used the card.
ICICI’s mistake started somewhere I May 2005 or later when I called an ICICI BANK REPRESENTATIVE by the name of Kalpesh/Kailash (didn’t capture the last name at all) to blacklist my CC since I had lost the card).
The guy seemed helped but to my plight did not do anything but provide me with incorrect information. DID not suspend my card. Did not blacklist my credit card account. He also advised me that I had Rs 10000 outstanding on the a/c which I could pay anytime and there would be no further charges apart from the ones already there. I was a fool to believe him. I went to Delhi for business purposes and lost complete count of the matter (again my Fault) but when I came back I made all of the necessary payments as advised by an extremely rude person from ADVENTITY(the worst outsourcing process ever). Since it was a call from a collection agency I was scared and did exactly what was required because they ABUSED me over the phone. I wasn’t ever aware of any outstanding amount because it was a card sent fraudulently by ICICI and they never had my billing address so all the info and prints went to my office address which I wasn’t aware of. Anyways now that the payment was settled, and the advisors confirmed that on 28307777 I was a little relieved and then the ICICI non-sense started.
I started getting calls from ICICI bank and adventity advisors threatening me to make more payments stating that I had used the card more and paid less and there was supposedly phenomenal INTEREST RATES TO THE CARD they had sent me. All this kept happening and in November hell broke lose when my PARENTS (who are both Senior Citizens) were exposed to profanity over my landline. They contacted me and advised me to settle this dispute once and for all. At that point in time I did not even realize that this was happening from a Bank which is endorsed by people with such high dignity. I was contacted yet again by a lady advisor called Jyoti (pseudo name) who said that If I don’t pay Rs 2000 to them then they will take me to court. I didn’t have that kind of Money so what I told her was that I would give some cash in advance and the remaining by PDCs of 5000 each from April and just put forward one condition that it should be debited on 1st of each month beginning 01/04/2006. She immediately agreed and sent a man from ICICI to collect the details and cheques. All done and dusted, I thought that was the end of my miseries but ICICI (the worst bank ever) decided against that. In the beginning of June I faced the same problem but this time around I decided to get the issue resolved over the phone by speaking to customer services (Customer services is supposed to help the customer but ICICI customer services tortures the customer).
In December, I spoke to a so called Manager Priyanka Kokitkar (02267034180) who further escalated my matter to Nirav Parekh (02266430549)and then later to Navin Jain. All of them useless Manager and should be sacked because of the way they work. Disgusting to the core and no manners whatsoever (forget helping customer they kept promising call backs which never happened on time and just kept passing me from one department to the other.) I was extremely frustrated but I needed the matter resolved. Finally I man from ICICI (Mr. Pandey) came to my house one fine day in Jan and started demanding more Payments. When I refused stating that my total purchases from that card were a mere Rs 40000 odd and I had already paid ICICI more than Rs 55,000, he stated that I had to meet his Boss Mr Rakesh Sharma ( 02266493469 and mobile no -9867567608). The worst person I have met at any level in any organization. I went to the Andheri Branch Office of ICICI in JB Nagar on the 1st floor and waited for almost 25 minutes before Rakesh sharma could show up. He listened to me very patiently but after repeating myself over a million times by then I am sure he did not agree with me but promised to sort it out. I had already overpaid this Bank by a huge Margin but it never occurred to me that they were cheating me. Finally, Rakesh Sharma promised me a callback with a certain settlement amount. I was going to pay one more time but that was the only way out. I said fine. No callback came but in April Mr Harish (9892315659) who is representative of ICICI came to my doorstep threatening my parents and me for the money (which I never owed them). I blasted out of sleep and said thing to him in such a tone that he immediately called his Boss Mr. Ravi Bhosle (02266493649) who apologized to my Father for everything that had happened ad also confirmed that his SON Vineet Bhupendra Yadav (that I me) DID NOT OWE ICICI BANK A SINGLE PENNY and if there was something then ICICI SHOULD REVERSE ALL THE CHARGE AND PROVIDE ME WITH COMPENSATION FOR THE PROFANE LANGUAGE THAT MY FATHER WAS EXPOSED TO. Mr. Harish was still there and said that this was the last time that anyone was bothering me at home or on phone. They confirmed that they would send out a final zero balanced statement to confirm that I was finally relieved from the BANK. BOTH OF THOSE AGED MEN LIED BLATANTLY TO GET OUT OF THE SITUATION THEY WERE IN. LIES, RUDE BEHAVIOR, PROFANITY etc etc … this is what ICICI is all about. Don’t trust me…read on
In April 2007, ICICI debited my account by 14000 Rs towards this credit card which I lost 2 years back, when I called to complain and advise that this had happened everyone was EXTREMELY RUDE AND INANE to what was happening. As usual they kept referring me to this Rajesh Malviya (02266493495) person who apparently was the HEAD of these decisions at ICICI credit cards department. I spoke to that gentleman for quite some time in the evening. Initially he was very helpful in listening me out but as soon as it was 19:45 hrs he started to be rude and naïve to my problems and very categorically hinted that his office hours were getting over and he wanted to go home. At that time I even mentioned that I would take this to the newspapers and he replied stating that it was fine as no one could do anything to HIM and that was the time when I decided to escalate it to him Superiors there but he kept stating that he was the only one in ICICI at that post and he did not report into anyone (A BIG BLATANT LIE accompanied with a lot of rude character which is in the BLOOD of ICICI STAFF)
Rs 14000 gone from my account and no one seemed to do anything about it at all. Useless Customer services guided me to Credit Card department. Rajesh Malviya kept saying he will callback but he never did and it eventually died out.
But what happened yesterday has now shaken me to a level where not only will i take this matter wherever i have to but also get so many people looped on to this mail that one cannot imagine.it will start at 17;00 hrs today when i send it to 7000 employees in my company and ask each one of them who has an icici account or credit card to call up and cancel their accounts at the earliest so one can imagine what the call flow wioll be for the next 3-4 day in there baseles,useless and good for nothing call centre.
Yesterday i called on 02228307777 to check my available balance since my salary comes on 31st each month and i saw that icici had put a bar and debited rs 46472 on my account. I immediated called and spoke to someone called shrikant who did not even hear me carefully and said that managers at icici only callback after 24 hrs for issues like these and not only that he stated that this was something not extremely important. All the managers at icici were on calls because of the heavy call flow. I was irate so i yelled at shrikant and in less than 2 mins i had a manager named raja (extn – 4652) came online. I asked raja for his surname and he refused me the same. He said i will make it simple for you –there is only one service manager called raja (extn – 4652). We spoke and agreed on a few things, i asked him which manager is working last nite and he said phanindar (and refused to give me his/her extn no. Stating that no one in icici had that no.). Then a few minutes later he called me back last night and said that he had organized a callback from the credit team to call me back at sharp 08:30 am. A call which never came until i write this email.
My aim in life has now changed – i will ensure that everyone at icici bank who has interacted with me with regards to this one issue is dealt with in any way possible. I will bring as much bad name to this bank as never before. I will distribute a copy of my pamphlets in buildings, shops, offices and wherever it takes to ensure that people do not choose icici bank as an option.
I will be calling them right now and going to the malad branch opposite paradign building and starting my activity and take this up further in any way possible, unless they decide to refund all my money.
The names mentioned on the email are absolutely correct and i have also mentioned their mobile nos., landline nos, or office extensions as far as possible and as far as i remember because this has been a long issue.
I requested all the people marked on this mail to take this up further and join hands with me and taking action against icici in whichever way possible. Please also forward this mail to as many people as you can so that they are aware what icici is all about.
Thanks & regards,
An extremely pissed of customer who will now live only to make ICICI suffer.
Vineet Yadav
3globalservices Pvt. Ltd.
Comment by icici bank bharat chodo — June 16, 2007 #
Complaints on “ICICI Bank”
Read more complaints on this Company
ICICI Bank
Posted: 2007-02-14 by Nirmal Singh [send email]
Malpractice - ICICI Bank India
Complaint Rating:
ICICI bank without my knowledge and for no reason debited Rs 19000/- and no one is responding to my complaint.
Worst Bank to bank with… Experienced by most of the customers!
Besides the malpractices… the bank will force you maintain a ’said minimum balance’ - quoting which they would deduct huge sums every quarter… to explain ( FACTUAL DATA - as it stand now - February 2007 ) - if you keep Rs 4999 in your account ( ie…, less than Rs 5000 , the said minimum balance ) and leave it for 1 year - they would deduct Rs 842 per three months - so by the end of 1 year your 4999 would have got reduced to about 1500 and by 18 months - your account would show negative balance —– Its a fact which one experiences post opening the account with ICICI Bank…
so here is a bank where your money does not grow but rather diminishes over time.
I am putting this on blog / sites for others to read and be cautious while dealing with this ICICI Bank… The ads shown on television are just an eye wash and they do not mean any such thing as “Hum Hain Na”… Wish they soon become “Hum Thae Na”
In nutshell -
1. ICICI bank is the worst bank to bank with
2. ICICI bank has pathetic customer service and
3. They have enough and more “tricky fine prints in their documentation ” - which by design would never be told / explained to the customers - and which are used to fool customers and make easy money..
Comments Ind
Comment by icici bank bharat chodo — June 16, 2007 #
Complaints on “ICICI Bank”
Read more complaints on this Company
ICICI Bank
Posted: 2007-06-11 by Sandeep Puri [send email]
Very poor customer service!
Complaint Rating:
I am customer of ICICI Bank Ltd, Vikas Puri Branch, New Delhi, India since last 7 seven years and have most relationships like Banking, cards, demat and home loan with it. Despite having multiple relationships, they don’t understand the importance and empathy a customer deserves.
I had made an online transfer of payment from my savings account on 2nd May 2007 to another visa account and in normal process it should reach in 3 working days. The amount from my account was deducted the same moment. After few days I checked with beneficiary (GE Cash Card) about the payment of Rs. 6000.00 made and they refused to have received any such payment and started charging me interest on outstanding amount.
I chased up ICICI Bank phone banking (near to getting worse) where the call centre agents based in Hyderabad are no more than robots looking and replying after seeing the computer in front of them. I lodged my complaint and they kept on transferring me from one officer to other till finally landed up with reply to write email.
I wrote email to them and they claimed that money was transferred on 3rd May whereas it did not reached beneficiary. Instead of them checking and chasing, they (their customer service representative Ramya) asked me to check with beneficiary. When I asked her to compensate me for the charges levied bay beneficiary it was outrightly denied saying that “it is not due to our fault”.
Finally on 22nd May, she generated a service request which is pending and unresolved till now and god knows when will my money reach. I have escalated the matter to next hierarchical level to Mr. Anirudh Kamani, Head, Customer Service by sending an online complaint yesterday the 31st May 2007 and awaiting an acknowledgment.
By all means, ICICI Bank claiming to be largest private sector Bank is not caring for customer satisfaction and redressal of their complaints in the interest of customers.
Comment by icici bank bharat chodo — June 16, 2007 #
To, Date:1/03/2007
The Officer Bangalore
Ombudsman, Phone No:9945255952
Reserve Bank of India. Land Line:25531645
Respected Sir,
Subject: Complaint regarding withdrawal of Rs 43,000 in total in Account No.004701504607 without my knowledge.
I V.Hari S/o R.Venkata Rao, aged 53 years resident of No.937, 1st Block, 6th Main, Koramangala, Bangalore-560034 hold an account in ICICI Bank as stated above since the year 2003.( My Debit Card No. is 4213950047021747 and joint account holder, my daughter H.Kavitha’s card no. is 4667060047154042).
It is brought to your notice that as surprise I received a letter dated 27/01/2007 seeking confirmation of change of address for the above SB Account No which I have never applied for. This letter surprised me and in pursuance I have enquired in the ICICI Bank and in reply they said that on 07/02/2007 an amount of Rs.43,000/- ( Rupees Forty Three Thousand Only) in three continuous transactions split into Rs.20,000 + 20,000 + 3,000/- has been withdrawn without my knowledge. It is surprising to note that on 05/02/2007 my original card is stated to be blocked by the bank authorities and the amount has been withdrawn from card bearing No.4213950047080966.
It is pertinent to mention that a few days ago during the month Jan’07 I had received a call through a Phone No. 9916072702 said to have been the bank personal enquiring for a new card, which had been turned down by me. In the circumstances I have lodged a complaint in this regard to the Bank Authorities and they have said that they shall be taking action after enquiry which requires 2 weeks time.
It is important to state that the bank Authorities have issued a statement by including the withdrawal made on 07/02/2007 in my account made through card no.4213950047080966, which is not issued to me. Further the Bank Authorities are not giving clear details as to why my Original Card was blocked? And who holds the card no. 4213950047080966 through which 43,000/- has been unauthorisedly drawn from my account? In the circumstances it is clear that I have been put to loss for no fault on my part. Further the said withdrawal is made with an intention to cheat me by persons involved, conniving with Bank personnel.
In the above facts and circumstances I request your benign office to suitably enquire in the above matter and take appropriate steps as per law in the interest of justice.
Please take immediate action as per law against the same.
Thanking you Yours Faithfully
V.Hari
Comment by harsha — June 12, 2007 #
I called up at no 91 22 26536377 or write to escalations@icicibank.com BUT NO RESPONSE. Does this really work….
I have gone through blog reflecting lot of problems , Even i am the victim of ICICI Bank…
Can I request Arjun to add functionality where in all the people who had problems and by any means if they could manage to get the solution should put there comments how have they arrived to that solution….
I have seen couple of mail ids, sending mails to Times,Hindu times etc etc or sending mails to kv kamath, raising request with Ombudsman or with RBI….BUT DOES THIS WORK ….??
I tried putting complaint in RBI online but it gives funny errors and doesn’t seems its working….
If this blog is read by ICICI Service team, I want to tell them, All the people writing in this blog had some good experiences and bad experiences and all the people writing here are putting there most valuable time to write their query or there problem only when they have unanswered query or bad response from the bank people. I would request ICICI service team to take this blog in positive means to check and consider the problems leaving no unresolved issues/frustrating problems.
I have one pending complaint from last 5 months and had suffered badly with this…
I am account holder of icici bank,fort,Mumbai.I have got payee confirmed on 31 Jan07 with A/cNo-015905002002(SG Travel Agency)and transfered amount of Rs9100 to it.Unfortunately correct A/c was 015105002002.
My brother had visited the branch and requested for the reversal but with no results.
Branch and Customer care was unable to contact beneficiary and hence can’t reverse the charges.Account to which my amount has been transferred is a dormant account and bank has debited the charges that needs to be reversed.
Couple of Points here:
1.Beneficiary is not reachable from past 5 months. In such circumstances where the account is dormant and beneficiary is not reachable /contactable ,there must be a law in the disclaimer that bank can act on the part of the beneficiary.If there is no such law then ICICI Bank is lacking on the part of situation analysis due to which customers like us are facing a problem
2.Also when the account is dormant,no transactions are allowed on the account unless and untill the account becomes active.In such circumstances amount should not have been credited into this account
3.while adding Benefeciary,ICICI Bank doesn’t display name of the Beneficiary Which has also lead to problem ,this however doesn’t happens in CITIBANK and o