Consumer Complaints and Grievances

POSTED BY Jagoinvestor ON June 12, 2009 COMMENTS (101)

What do we do when we face some issue with Banks, Mutual Funds, Credit Card company, Insurance Company and so on?

The first thing we do is to file a complain with them for our problems and then we wait for their answer. What if we are not satisfied with there reply and want more justice.

We can then lodge a complain with their regulators Ombudsman and grievance cells. Let us see this in more detail.

Consumer Complaints and Grievances

What is Ombudsman?

The ombudsman is the internal complaint department for socially responsible organizations (governments, companies, societies, etc.). The ombudsman has complete access to the organization’s records and personnel, and the knowledge to understand how things work internally, in order to investigate complaints made against the organization.

So we have Bank Ombudsman, Insurance Company Ombudsman and Mutual funds companies Ombudsman etc.

When should you Approach Ombudsman ?

The first thing you should be doing is to contact your Bank/Mutual Fund Office/ Insurance Company and file a complaint with them. If you do not receive any response within some specified limit of days, you should further your complaint  with the Ombudsman.

What If Ombudsman do not reply or take Action?

All the Ombudsman bodies comes under the purview of Right to Information Act (RTI act of 1995). They are legally bound to reply for any complaints made by them ,considering its as per the stated rules.

Banking Operations and Credit Cards

Local Ombudsman:
Where to Complain :

Mutual Funds and Stock Market Related

Regulator :SEBI
Where to Complain:
Track your Complaint Status at:


Regulator : IRDA
Where to Complain :
For more see :

Note : Ombudsman are the next level of bodies to complain , first try to resolve matter personally with the Bank or Insurance company which is creating problem for you.

101 replies on this article “Consumer Complaints and Grievances”

  1. Sheetal says:

    Hi Manish,
    I have been living in London for past 8years during which time my MFinvestments in India have made substantial gains.I have written to my broker regarding booking profit and transfer same to my bank accounts in India.The redemption was held back by him stating issue with my name as the investment was done in my maiden name and the acs are held in married name.I have submitted all relevant documents wrt name change and filled out fresh redemption forms
    During my last visit to India.But the broker has not acted on same and is not answering my calls or emails .
    My father is retired and owing to serious health issue needs medical help regularly.I want the money to be accessible to him in his time of need.But being away means having no control over my investments.Is there a way of getting the redemption request actioned directly by the MF company bypassing the broker.
    I am desperate,kindly advise

    1. Definately. The broker has no role on this.

      YOu can do all the things yourself . The broker was just going to submit it anyways.

      Directly talk to AMC and they will guide you on what needs to be done !

      1. Sheetal says:

        I am so relieved to hear this!
        Ever so grateful to you for your counsel.

        1. Glad to know that Sheetal ..

        2. HOw much is your portfolio worth?

          Incase you want, you can redeem first and then reinvest through Jagoinvestor (us). We give an online access to our clients and you can redeem yourself whenever you want. We can help you with the process if you wish.


  2. Sunil Patel says:

    Hi, My name is Sunil Patel,
    I had received an phone calls from no. 1409305456, 1409305454, 1409305455….
    Lady name Akansha talked to me saying that she is calling from Reliance Capital limeted and if you need a loan.
    Then she explained that this loan is against the live insurance policy so if I take 20lac loan I’ll have to pay 2lacs ever year for 10years, and in 11, 12, and 13th year I will get 15% back.
    Once I pay 2Lacs by check and cancel check to their agents with documents Pan card, Adhar card, 2 Photo.
    once they received all this then will start the process and in 20 days 20lac will deposit in my bank account.
    When I said ok I am Interested in this she said my executive officer will call and conform with you, I said ok let him call.
    He call me with same kind of no. 1409…… and explains me same thing all over again and he also gave me his personal number (8287548169) I forget to ask his name, then they told me that tomorrow 2 guys will come between 2 to 3 PM and youcan check their id and conform that they are from Reliance capital and then give them the documents and checks and in 20 days your loan will be approved and you will get the 20lac in you account and you will receive the documents of Reliance life insurance policy by mail and I’ll have 30 days to read it and sign it and send it back.
    I said send the agents to me I’ll give all them all the documents.
    Again from same kind of number guy called saying Mr sunil I am calling from Reliance Capital and my name is Rahul Agrawal and he stared explaining me all again, I told me that I have already talked to the executive and your agents are going to come to pick up the documents and he stared saying i am his senior officer and my personal no. is (9873627089) he said to conform you ll receive one more call just tell them that you are not taking a loan you are getting a life insurance policy from Reliance life insurance and you’ll be writing a check of 99999.00 to Reliance life insurance policy and once I (Rahul A) gel all the documents I’ll approve you loan for 20lac.
    He said if you tell the agents (who will come to collect the documents at my office in Surat) that you are taking a loan of 20lac then you have to give them 10% commission which will be 2lac and that will deduct from my loan money so only 18lacs will be deposited in my bank.
    He said something Self code and agent code loan.
    Then Guy Name Hiren from surat agent called me and asked me that what was I told. I told him that I am getting life insurance policy, so he asked that is those guys told you about the loan or any thing, if they did then it not true, they are not from Reliance life insurance they are from IRA or something…
    Rahul Argawal keep calling me from his personal number but I am not picking it up and the way he talks the Delhi accent I am not sure about him that he is telling truth.
    I haven’t paid the money yet or given the documents.
    This is recent matter on /10/2015 I received the call, yesterday I talked to Rahul like 3 times and Hiren and today(13/10/2015) I have not picked up his call.
    Can anyone tell me what should I do?
    Thank you,

    1. Just stay away from it .

    2. Prabhat says:

      Thank you so much for share ..Boss

  3. SunandaBal says:

    Sir /Madam
    I am a senior citizen aged 72 yrs residing at Pune.I received a phone call on my land line number by one Mr.Raikar saying that he is the manager of Bharati Axa insurance company stating that he has a very attractive policy for senior citizens on next day he sent two college students with forms and photo copies of brochures.They claimed that this policy was for people in age group of 58 to 86 yrs. I have to make a one time payment of Rs 50000/- and will get a policy for five years AT END OF FIVE YEARS THAT IS ON maturity I get Rs.94825/- plus health cover worth Rs 35000/- TO BE USED DURING THE FIVE YEAR TERM OF THE POLICY .On MY death, my spouse gets Rs 200000/- and on maturity date the nominee will get sum assured i.e. rs 94825/-.If I do not claim medical benefits then I get additional 17500/- at the time of maturity that is total benefits of Rs 94825/- +35000/-+200000( in case of death.)All this sounded too lucrative to be true. so I called Bharati Axa head office and came to know that no such policy nor such a person was in their office .


    1. Hi SunandaBal

      Thanks for your sharing your valuable comment on this topic. Please keep sharing your views in future also


  4. JAYANTHI says:

    FROM IRDA FOR REFUND OUR AMT WHAT WE LOSE FROM insurance co if we take a dummy policy for rs.30000 what will we do for that ?

    1. It was a fake call .

  5. sanjay says:

    * Mandatory Fields
    *Name of Complainant Mr.Sanjay Chidanand Dubi
    Communication Details
    *Door No./ Bldg/Name/ Floor 09/B, B.M.Co-Op.Hsg.Soc.Ltd.
    Street / Area Opp.K.D.Agrawal Hall, Manpada Road,
    *City/Town/Panchayath/Village Dombivali – East
    Taluk/Tehzil Kalyan
    District Thane
    *State Maharashtra
    *Pin Code 421201
    E- Mail
    Telephone No 22-25822270/25820716
    *Mobile No 91-8097831202/9920392263
    Fax No
    *Insurance Type (Please mentioned Insurance Type   INVEST ASSURE GOLD
    *Life Life
    * Non Life
    *Insurance Company Name Bajaj Allianz Life Insurance Co.Ltd.
    *Date of Birth of Policy Holder 01 Sept.1964
    *Policy No:  0313039840
    Other Reference No: Wrong Policy
    Policy serving Brach Code/Address M58, 301 Gopi Cine Mall, Gupte Cross Road,Dombivali (West) 421201 Dist-Thane
    *Details of the Complaint (Please type the full details of the complaint) Policy Not Recd.Policy No. 0313039840 dt. 06.03.2014 Invest Assure GoldLast 7 Months has gone I have not received my Policy Bond document
    *Have you Approached Insurance Company Regarding This Grievance (If Yes Provide Ref No ) NO.

    1. Thanks for sharing it

  6. Mubeena R says:


    I have an incident with ICICI bank on the confidentiality, they disclosed my personal account details without my consent to my old employer, as he bribed the intermediary employee of ICICI and he pulled the report for him.
    I lost my job due to this. I have raised complaint last Dec’13 with ICICI and they did not resolve it till date but simply talking to me that it will be resolved. Now I have raised it upto RBI OB.

    Should I wait till some action taken on this or I go for consumer cours. I suffered a lot due to this and due to the trauma i developed diabetes.. Please advice.

    1. I think you should raise not just a consumer court , but even a proper fraud case ! , its breach of trust and agreement


  7. Jaya Chanchlani says:

    I hold policy no 00576862 of ICICI Prudential
    1. My policy matured on 1/12/2013
    2. At the time of last premium payment I visited ICICI Prudential and asked for option form for
    Full payment, Employee of company told me they will send forms at time of maturity
    3. In the month of October I received from ICICI Prudential annuity quotation and bank detail forms
    Through courier
    4. ICICI Prudential avoided to send surrender of policy form full maturity amount purposely
    5. I duly filled bank detail form and send to ICICI Prudential through speed post, thinking that
    It is only form for full maturity amount
    I therefore complained to ICICI Prudential as amount was not credited in my bank account as below
    1.As per para 10.3 of policy I can opt for full maturity amount, Why ICICI Prudential has not sent
    Option form for full maturity through courier?
    2. Why I should attend office of company for full maturity option as required by them
    3. How ICICI Prudential I cannot opt for full matured amount after 3/12/2013?
    4. Mumbai Ombudsman of company refuses to entertain complaint

    I advice all investors to get out of from the investment of ICICI prudential or they will force to take meager pension and forget full mature amount

    1. THanks for sharing this incident with us

  8. Gaurav says:

    Dear Manish,
    Facing harassment from Banks is very annoying to customer but what I felt more annoying was responses from Banking ombudsman when I filed few complains against different banks!! In most of the complains I had left no stone unearthed and fulfilled all possible ways of grievance redressal at Bank’s end before I actually approached Banking Ombudsman.In most cases I gave time of as long as one year to banks to resolve my grievances.But Banks kept on harassing me for that long period.Hence I decided to approach BO and claimed monetary compensation along with the resolution of original complain.Claiming monetary compensation was definitely under pecunary provisions of Banking Omb Act as the complains were arising out of credit card operations of bank.The Subcaluse 6 of Clause 12 of BO act ascertain the right of complainant to obtain monetary compensation upto Rs 1 lac from forum of BO in case filed against Bank related to credit card related problems faced by him.This compensation include actual loss of time,money and mental anguish suffered by complainant.

    But to my horror,the Office of BO Delhi was so insensitive to even note minute facts mentioned in my complain even upon repeatedly addressing them to the kind attention of BO.Further one of the Bank made use of few documents from earlier similar case and misrepresented them as the evidence in the current case filed by me and misguided BO stating the Bank have already resolved the complain before it actually raised with BO!!! This act of impersonation was also raised to kind attention of Office of BO which was also overlooked.The use of forged documents from earlier similar case by none other than Nodal Officer of Bank was not taken into consideration by BO.Most of the complains were pending for 6-8 months,I was not shared with the response of Bank either!!!The Clause 10 or 11 which deals with procedure to promote resolution of Grievance by mutual understanding and in absence of which Award will be given by BO has not been followed by BO.I was not even called once to promote any agreement by mutual acceptance and Awards favoring Banks have been passed by BO unilaterally!!All my complains were rejected stating they are out of pecunary jurisdiction of Office of BO.

    The moral of the story is that I faced thousand times more harassment from forum of Banking Ombudsman than that I had faced from Bank.Is there any way I can do against the sarcastic proceedings of BO Office Delhi which is against the cause for which they have been setup that is to prevent customer harassment by Bank!!!

    1. Gaurav

      You need a lot of patience on your side 🙂 . Its sad to see the response from Banking ombudsman . If you are still not satisfied, you should move to consumer court now at district level . It will take the case further, but then thats the only way you have to get justice which you feel you deserve.

  9. akgc2 says:

    Bajaj Elite Employee once tried to do same with me. Call center employee just called me and tried to lure with the Guaranteed 15% per annuam return. I asked her to explain me the same. She fixed the appointment with one of the company executive.

    All these people try to sell policy on same points. Pay for 3 Years and then stop the payment after 5 years you can withdraw the original investment plus the growth made during this period. They will so a rosy picture of your money growing to double in 5 Years.

    They made 3 visits including their senior sales manager. Even he made the false claims. However I kept asking the Policy Document of any customer they had.

    Finally he shared one customer policy document. After evaluating the policy document very Carefully (The jargon of the words) I concluded that money will not be doubles in 5 years rather you will in in loss.

    I am 100% sure that there is no policy in today’s market which can mark the word guaranteed and provide more than 10% returns.

    So be careful with such people.

    Ask those people to sign on a stamp paper of their claims. They will run away immediately.


    1. Great Arun ..

      Kudos to the way you handled this situation !

  10. Rajeshree.Jadhav says:

    Hi manish , i worked in reliance life insurance capital services as junior sales jsm.501& 502 south block sacred world 5th floor wanowarie. Ive worked here for about a year and have made certain policies .as per the information i was told to pay for 3 yrs and after 5 yrs the amount will be double .but now they do not accept we are going for a withdrawal they are giving half of the amount which is not worth what we payed .please do look into this and help me out as soon as possible
    * they are avoiding to give me my pf as well.My advicer did not recieve the commision for 3 yrs

    1. I am sure that in your policy document it must be clearly mentioned that you will get double amount ? Right ? Did you read it ? If it was done verbally, it was just to sell the policy like any other !

  11. Dinesh Kumar says:

    R/S Good Evening ji.

    Sir I am Dinesh Kumar S/o Sh Dharam pal ,Vpo Jhumpa kalan ,Thesil Siwani ,Disst Biwani .Haryana . Sir I have postpaid connection of Vodafone compay, which is no, 9671590006.Sir I was continune deposit bill every month. October month bill come 1122.42 rupees aproximaly.sir 640 rupess excess amount in my bill I have cheek than I was found net plan add on my mobile no. without my information/knowledge. Sir I have not use net on my mobile .I have complaint in Vodafone store ,he say that I will submit emil & remove your excess amount. Respected Sir 9/10/2013 my outgoing service has been closed .sir I am triad do to complaint. But Vodafone store not response of me. After that sir 8/11/2013 my incoming service has been closed. sir now at that time any service give “incoming & outgoing”& my monthly rental increased by Vodafone company. Net plan monthly rental & mobile incoming & outgoing call rental charge increased . he said me that 1113 rupees deposit in Vodafone store. company do again again call for me. Sir I am lotof huressment this problem & very said & lot of disturb sir . I request to you please solve my problem sir very very thanks sir .

    Sir now my no.9671590006 is strat on dated 15/11/2013 sir now incoming & outgoing service available on dated 15/11/2013 so that I am able to 175 rupees only rent ,& whose use by me , other amount remove in my bill amount sir. Thanks sir

    Dinesh Kumar
    S/o Sh. Dharam pal
    Vpo Jhumpa kalan
    Distt Bhiwani

  12. Chetan Ambi says:

    Nice article Manish. Though I have not faced any issues from MF or Insurance etc I have added this information to my knowledge bank. Thanks !!

    1. Prevention is better than sure !

  13. Jimson Jose says:

    Dear Manish Chaunan Ji,

    Please help ME(JIMSON from Hyderabad) , the issue is …
    On Sep 2nd ‘2013 while i was checking my (SBI) Credit card bill i was shocked to see that an amount of Rs.5000/- this false purchase was done with merchant named as “Super_offus_BD MUMBA IN”. I never attended any sales calls or purchased from SBI . This was immediately informed to Customer care desk over phone & the same day i have mailed to nodal, CEO, Charge back of SBI from 2nd, 3rd(with dispute form),10 ,14 ,16 Sept dates. After that i have got 2 calls from Nodal desk and i have explained the same to the executives they told me that it would take 120 days to resolve the same with proper inquiry. One fine day i got a mail from charge-back stating that you are liable of the payment;(in investigation they found that this transaction was done through online visa transfer with cvv and date of birth.). I was surprised to see the mail because it was not even crossed 100Hrs for which i have urged for a detailed inquiry with proper documents and call records. I have received this mail from today again 25th of Sep i have again received a call on the same issue. I am feeling trouble with the calls and mail received from them. I am even feeling unsecured as they might charge me with other penalties and they might even change my status in CIBIL. As in coming up years i would like to take some educational and personal loans which would lead my life.
    So, Sir can you please suggest and direct me how to fight for justice.
    I am a entry level executive working in a small NGO and Rs.5000 means to me a lot. And other charges from them might drown me into hell making my life miserable.
    Please help me. as it is a total fraudulent case.

    Thanking you
    Jimson jose.

    1. Hi Jimson

      I suggest you lodge a complain with on this . they will help you in this regard !

  14. Maghvendra says:

    Dear Mr. Manish
    I got a call from 0120-3926741. The lady said, she is from IRDA. She will help recovering the money which did not grow in one of my ULIP based policy. She suggested to submit a cheque of Rs. 24360 in favour of Birla Sun Life Insurance. Then I would receive a Fixed Deposit bond of Amount = Premium paid for ULIP policy + Interest accumulated on ULIP premiums + Rs. 24360. At the end of one year (duration of FD), I would receive the above said amount + interest on FD.
    To my surprise, she knew everything about my policy e.g. date of first premium, amount of premium, mode of premium payment (QLY/HLY/YLY), current fund value (No. of Units x NAV).
    So far I have not given any document and/or cheque.
    Upto what extent all these calls are true?
    If it is a fraud call, then how these fellows have access to all the information pertaining to my policy?
    What should I do in such case?

    1. Just avoid it , its a fraud call . No calls are done from IRDA !

  15. soma basuli says:

    Respected sir,
    i have a complain againest to lic of india .i am a house wife,my name is smt. soma basuli and my PAN CARD NO-AWGPB0062P,my adders-vill+po-onda,dist- bankura,pin-722144.
    sir i informe to you that my pan card number is used in aother person,i know that when i put my pan number for join a insurence company then the company`s IRDA ONLINE:agency licensing portal indicate that the pan card already use a LICI agent, HIS DETAILS-(NAME-Bharath a.s. ,F/O-Satnarayan Reddy a.n. ,DOB-19/12/1988,URN-lici2705110268,License no-8715166,Type-individual,Insurer name-LIC OF INDIA, Agent id-KAU220711LILICO85267, Catagory-life) this agent is illegaly use my pan card.
    Please immidiately take a legaly prosidure againest the lici agent`s and please free to my pan card .Because i am already fearable and confused for this matter. Sir i have not doing to join any insurence company for this problem. Sir please informe me to my mail id( what is my way to solvance and give a punished to this fake agent . contact no-8116586749
    yours faithfully
    soma basuli

  16. Ajit Gunge says:

    Hi All,
    I have a question to ask here.If anyone can add to the information that would help a lot.

    I have few of my lapsed policies Few with max new york and few with reliacne.I dont want to continue with the policies and want to have refund for the policies,I am getting calls from executives stating that they are IRDA executives and they can refund my money but I have to invest and amount of 15K in government bonds.Can some tell me is this true and this can be really done.Because I dont want to spend further money and have nothing in return.Please advise.


      1. Ramchandra R.Papalli says:

        Dear sir
        I buy hdfc life policy no 15895080 on 6-3-13 in the name of R.R.Parpalli.wen i received the policy it was in the name of my wife mrsPramila R.Parpalli I surprised and shocked.the said policy was surrender in freelook pried on 16-3-13 at hdfc’smahalaxmi ins. office.The hdfs has also send me 3letters dtd.-18,20.and 26th march2013.stating that the matter is under investigation.wen i surrender my policy that the branch office staffhad told me to remitt my policy amount within 14 days period.till date i did’t received the payment of Rs. 20000/-.This is a cheating done by agency staff.i appeal to the hdfc to take strict action against the agency for such a great cheating done wit me.please let me advise for further needfull action.

        with regards
        mob. no 9969015112 (4-5 2013).

        1. Complain to banking ombudsman now

  17. baljit singh khapra says:

    Status of my complaint No D A68386418974 dated 08 Oct 2012 not received. Please intimate the same.

  18. D.RAMA GOPAL says:

    I filed complaint against KVB ongole Br to Banking ombudsman hyderabad for wronly caliculation of interest rate on my educational loan ‘The compliant was registered & sent complaint No.Inspite of several reminders banking ombudsman sent a letter mentioning what the charged interest rate is correct for my loan keeping the fact what is the wrong caliculation interest .I replied explaining the fact about wrong caliculation of interest & how it is caliculated.But there is no reply from Banking ombudsman even I reminded several mentioned interesr rate correctly but caliculation of interest is with higher rate of interest.So I reqest you to guide in this regard & what steps I have to be taken to get justice& from where.
    D.Rama Gopal

    1. Can you send me what was wrong with bank way of calculation , I think you might be calculating it in wrong manner.

  19. Chander Pal says:

    Sub: – For Refund my policy amount or original policy document from Aviva Life Insurance Co ltd.

    Sir I applied a policy from Aviva Life Insurance co ltd. Policy no. ALA3092253.
    I am not received my original policy documents from Aviva life. As per Aviva life my policy documents was received to post office 16th January 2012 of Jakhod Khera Airway bill no. EH35626462IN but not received to me. I am also confirming from post office. There were no documents of my policy. Aviva sent me duplicate documents of policy but I am return that duplicate policy documents with not accepted letter with duplicate policy and written give me my policy amount or my original policy documents.

    Chander Pal

    1. I have forwarded your message to Aviva, lets see

      1. chander pal says:

        Manish g, What about my Problem you got any reply from Aviva Life.

      2. chander pal says:

        Sir I applied a policy from Aviva Life Insurance co ltd. Policy no. ALA3092253.

        I am not received my original policy documents from Aviva life. As per Aviva life my policy documents was received to post office 16th January 2012 of Jakhod Khera Airway bill no. EH35626462IN but not received to me. I am also confirming from post office. There were no documents of my policy. Aviva sent me duplicate documents of policy but I am return that duplicate policy documents with not accepted letter with duplicate policy and written give me my policy amount or my original policy documents.


        Chander Pal

        1. ALl you can do is pursue it back with Aviva. Else complain to banking ombudsman .

          1. chander pal says:

            Manish Sir,
            Please help me in this case.

  20. unnikrishnan says:

    I have been approched byHDFC standard mutual fund managers in march,2007 & made to invest Rs 30000/-( half yearly premium) in Unit linked endowment scheme mutual funds.But when i got the units i was surpsied to see thatI was alloted 244 units valued Rs11782/-(on16/3/2007). Thus deducting an amount of 18218/- as i was said that full allocation charges has been deducted from my amount.This was real day time robbery . Now ater after 5 years (5/9/2012 ) i got in touch with the HDFC life & i was shocked to hear that my account value is null & iam not to be paid any amount now.So fellow human beings never fall prey to such Mutual fund manager blood sucking leeches & to get away ones hard earned money.Never invest in mutual funds.

    1. Can you send me more details on this , What you said “NIL money” cant happen , there is something which should be investigated .


    2. rajivahuja says:

      HDFC Life S L Crest is even worse. I did not fill an ECS Mandate still they cut my FD & told me to do whatever I wanted.

  21. Sanjay Bhandarkar says:

    Dear Manish,

    I am from bangalore
    I am ICICI Bank Credit card holder and there is some 62,000/- and the billing date is 20th of every month. I had been paying whatever minimum the agent is telling i.e. from last 2 months 2,500/-.(they have issued the receipt and reflected in my statement).

    Suddenly, my case is gone to another agency – Name of the agent – Jagadish and his ICICI Bank Manager is Avinash.

    Previously, a year ago, I had closed a person loan attached to this account with outstanding of 3,70,00/ appx. My last due was around 1,50,000/ apx and this last due was handled my this Jagadish and his manager Avinash. This 2 guys are rude. I paid my last installment in cheque. But, they were insisting on cash + additional amount to close the account. But, I fought and closed the account.

    Now, currently again after 1 year these people come into picture and they want to take the prior revenge. Jagadish called me(080-23612044) , he wanted the entire amount of 62,000/- that day itself and talked rude on 24th of last month. I told him that I had time till 8th of july to pay the amount and minimum as per the bill is around 10,000/. He didn’t oblige and he even threatened to come to my house and beat me. I called the customer care center of icici bank and told about the incident. They even gave me the ref no: SR229080266.

    But, I haven’t got any feedback regarding the action taken on these people. To make this month payment, I was waiting for the reply and I had time till 20th.

    Suddenly, this same jagadish called me with name of Nagaraj. He talked me rudely and when I started recording, he disconnected.

    I again called twice immediately with recording, he said he didn’t call me at all. Even after paying every month that to what the agent say to pay, we have to go through this mental agony.

    Same thing happened with my car loan. After final payment, Icicibank agent called me and asked some 200/- to give the NOC. But, I fought and got directly through courier.

    But, now I want to end this. I want to fight against these people. I want to know what action I can take against these people.

    Best Regards,
    Sanjay Bhandarkar K

    1. Sanjay

      You can file a consumer conmplaint against ICICI Bank , how ever i am not clear what exactly is the issue, are you questioning the method of recovery or just the recovery itself ? I hope you know that paying minimum amount on your credit card is hurting your credit report and you will really face a lot of issues later in taking a loan !

      1. Sanjay Bhandarkar says:

        my issue is that the complaint which i had raised SR229080266, no serious action is taken at all.

        regarding further loans in think in my life will not avail. this has taught me a very valuable lesson. with this card i was a esteem customer for ICICI bank and this is a platinum card. before 4 years these people used to call for personnal loan with this card. i availled 4,50,000.00 and that changed my life and everything. and this personnal loan that i somehow closed last year.

  22. Nandakumar says:

    Hi Manish,

    I want to discuss the issue I am now facing with ICICI credit card.
    I am currently abroad on company work and before leaving India I had completely settled all my credit card dues.I have my credit card with me here abroad .
    Then one day I got email alerts that my card was used in Chennai (when I was abroad) they were 4 transactions done continuously to the tune of Rs 28000.
    I called up the ICICI bank and reported fraud,they said they would block the card and do a verification.They now say that the merchant is not co-operating in the investigation ,so i am supposed to bear all the money and sending me continuous mails.
    Please advise how I should proceed on this and as i am expected to return after 3 months only, till then what can be done from my side on this as they are charging interest exorbitantly.

    Please note that as per ICICI it was a physical swipe and the card was used in a petrol bunk.It was not any online transaction.

    I have sent a email complaint to ICICI and they said you pay the money now we shall dispute it after you return.My worry is why should I pay for a case of fraud,which they are incompetent to investigate.Moreover I came to know that DEC 2011 was the period when heavy credit card fraud took place in ICICI.

    Your advice on this is much appreciated.



  23. S Dash says:

    Hi Manish,
    I received a call from a lady named Riya Malhotra who said she was from IRDA. She said that IRDA is helping out investors in getting back their long stuck up policy funds. I had one Bajaj Allianz policy which I wanted to close. She said she will help me do it if I take a new policy from any of the following:-
    1. Kotak Mahindra
    2. Birla Sunlife , etc
    She said that this is a five year term, we pay one-time 51000 now (no more premium payment till 5 years) and we will get 50% of the 51000 in 45 days and after 5 years we will receive approx 76000. However we will get a life cover till I attain age of 100. Moreover we can also recover any insurance amount which we are unsatisfied with within 45 days also.
    It’s already more than 50 days since I made the payment of 51000 by cheque but I have not received any communications from her. I try calling her @ her mobile- 7503926049. No answer.
    Please suggest what should I do?

    1. It was fraud , sorry for you .. IRDA is not running any campaign like this ! . I only wonder how can you fall in this trap ?

  24. sunita kulkarni says:

    sbi credit card debited 165500 to our account 4317575036420850 on 23 jan 2012 without tranaction and any intimation, after enquiry with call centre, it was confirmed that due to sbi mistake in 2011 they gave excess credit to our account. but we felt doubt in august 11, when we asked our total out standing in call centre, but their reply was no doubt your account is going on smooth. we sent more than 20 mails to all sbi mail address that there is discripancy in our account please cheack and setright, but we received only auto generated reply. and not traced any thing. its amounting to deficiency of service. now on 21 jan they traced discripancy and ringed us and told DUE SBI CARD MISTAKE WE GAVE YOU 165500 IN LAST YEAR, AND SAME IS NOW DEBITING TO YOUR ACCOUNT, AND YOU PAY OFF IN 12 INSTALLMENTS (13500 PM).
    WHAT TO DO ?

    1. Sunita

      What did you do with that money which you got accidently ?


  25. Dr.Manish k.Vashista says:

    Hi Manish.
    I am a regular follower of andappriciate your views given in forum .
    I am experiencing little tussle with Aviva Life Insurance Company In regards to manipulation of facts provided by me in my proposal form.
    I received my aviva lifesheild platinum policy No NPA0029799 on 3/2/12,issued on 25/2/12.While going through my policydocument i found that facts filled by me in my proposal form (family history/travel history etc) was ERASED AND REWRITTEN.
    I contacted costumer care and was harrased with all blaming on myside and atlast advised to contact local(patiala) branch manager.On contacting branch manager i was promised that a fresh proposal form will be filled and been attached to policy document. I provided them my complaint with all details and photocopy of policy document on 4/2/12,but they didn”t follow me further.
    So i sent my complaint and all supporting document attached by speed post No-EP150018894IN to complaint cell aviva life insurance company,gurgaon on 7/2/12.
    I received a confirmatory letter on 17/2/12 with reference No- PSR815 and 3801738 with promise to resolution within 3 days.
    So i am waiting for what will be the solution but I had decided to approach insurance ombudsman and consumer court in case of not satisfactory resolution to my problem.
    I want your valueable opinion how i should procced now.
    Please do contact me on

    1. Manish

      Better reach to Insurance ombudsman now ..

  26. dr deshpande a d says:

    dear sir ,

    greetings ..!
    i have been buying the reliance Diversified power sector fund in a SIP of one thousand Rs per month since 3 years . there was a auto debit through ECS in SBI .
    but there was no debit from nov 2010 . and then suddenly in aug 2011 i was charged 17 thousand by way of 17 debits on one single day .
    when i complained , the reliance local manager told that it was a bank problem .
    also he said that i was allotted unit in the fund in each respective month .
    the nav was 55 in nov2010. but when i paid 17 thousand in Aug 2011, the nav was 31 . now the company is not ready to allot units as per the NAV in AUG 2011 .
    is it possible that the company had really allotted me unit in past 17 months without receiving money by way of debit ?
    was not the company ‘s duty to inform within 1-2 months , if there was a problem with debit system ?
    kindly help ! what should be my stand ?

    1. DR deshpande

      This should be investigated .. please do a rough calcualtion on your end and you can figure out how many units you should have .. ask them for the statement ..


  27. D.D RASTOGI says:

    dear sir,
    In the year 1997 Ihad invested Rs. 50,000/= witth ENBEE PLANTATION, BHOPAL, they comitted to offer 20% return , they had provided post dated checqes and land bond papers in my favour.all checques were bouncd ,after 3 years they have asked me to opt some other scheme and asked to return all the original documents with post dated checques. they have sent me 100 debentures of value 50000/- and promised to return my prinsipal amount with intrest , by 2003 but after so many letters to them and copy to RBI and SEBI , I could get my money back , please suggest what to do now D.D.RASTOGI

  28. Kargas says:

    We deposited international cheque in ICICI bank on 21st May. We started calling the bank officials after 20 days of deposit for the status of our remittance. Everytime they told us to wait for few more days as cheque was under process. On 25th June, our representative visited the bank and stayed there for 6 hours and was told by the branch manager himself that the cheque was still lying in the clearing house and they will immediately take the action so that we will get the remmitance in next 15 days. On the same date we also inward our complaint. We again started following up the bank officials since 12th July and today they sent us an email requesting indemnity as cheque was put on hold due to non avaibality of indemnity. I filed a complaint on rbi site with the Banking Ombudsman. Now how to track this complaint? Do I need to lodge an independent complaint in counsumer court as well?

    1. Y.C.Kalia says:

      Approaching Banking Ombudsman is useless , since all private bankers have their arrangements with Ombudsman , moreover Ombudsman has no teeth , their orders are of no value and cannot be imposed on Banks. Ombudsman office is just like Municipal Committee Office , specially in Delhi. This is the observation of many people who have dealt with this office.

      Best way is to approach Consumer Court for Deficiency of Service and claim the compensation too. Orders of Consumer court are imposable on Banks. It takes time but consumers are heard. All depends upon the value of your cheque you deposited.

      1. Kargas says:

        Dear Sir,
        Thanks for your reply. Value of the cheque is USD8152. Do you think its advisable to move to consumer court for this value? Can we move to consumer court even if our complaint is pending with the Bank Ombudsman? and in any case how can I track the complaint status with bank ombudsman as i do not even have receipt of my complaint. Thanks again.

        1. Y.C.Kalia says:

          This is a big amount, Ombusdman is not the proper forum, they will simply give the decision that Export proceeds are outside the pecuniary powers of Ombudsman.

          Normally the foreign checks are credited in 60 days, if it goes beyond , it can be considered deficiency of service on the part of Bank.

          It is better if you consult some Consumer Court lawyer.

          1. Kargas says:

            Dear Sir,
            Thanks for your reply. Most of our foreign checks are credited in maximum 20-25 days. In our case…clearing house people were holding the check on their table waiting for indemnity and we were not instructed to do so by any bank officials. Anyway, I will consult a consumer court lawyer as per your suggestion. Thanks.

  29. lt col rameshwar gupta says:

    dear sir,
    i am facing too much of problem in opening of demat account, i am an Army officer, posted in Secunderabad, and the Bank people of hyderabad r not ready to accept my official certificates, which states that MY WIFE IS MY WIFE & STAYS WITH ME. SO PLZ TELL ME WHAT TO DO ?? i am struck up for the past 2 months, as i dont have a Passport, Rationcard ( i am not authorised), telephone ( i have mobiles), so plz accept the Indian Army’s certificate that i am an officer & my wife stays with me !!
    Plz forward this mail to the SEBI chairman for his persual.

    1. Why do you want to open an account with that bank , have you tried it with other banks ?

  30. Pancham Maurya says:

    I has taken Personal Loan of Rs. 3,00,000 from Fullertone India in June 2010. I was informed that EMI amounting to Rs. 9500 will be deducted from the month of August. I have made sufficient in the month of August and 1st emi was deducted on 5th August. Each and every thing was going fine, but in the month of Novemeber 2010, an amount of RS. 276/- has been deducted as RT-ECS-FC on 24th November. At this time I had ignored but them same was repeated on December. I have raised the Query with Bank, on investigation It was revealed that Fullertone is presenting my ECS twice a month. On the same Day I set the alarm and got a No. 9004693605 of Thane Branch. I was calling him continously from Last 1 month but he was not responding / nor supporting. Yesterday, It was very shocking that Again Amount of Rs 276/- has been deducted from my account on 15th January 2011.

    Due to this negligence from Fullertone I am suffering mentally, as I have been blacklisted from other loans too.

    I am planning to raise the issue with Consumer Court. Can i Raise this issue with them? and what are the procedures and documentation required? and how much can i Claim towards mental stress given by Fullertone.

    Pls guide..

    1. Pancham

      I will mail you right away with cc to a consumer court expert


  31. mahendrakankriya says:



    i am small investor or trader in stock exchange ragistered with munoth capital market ltd.

    (1) First i purchased 5000 share of above script by trade no 67727878 at about 13:11 pm at 19.47 rupees share and after that I sold that shares wide trade no. 67865428 at about 13:48 pm at 19 rupees shares. Closing price of that share was about Rs 19/- After complating that i got this script was in trade for trade and that shares cannot be sold in same day.

    (2) After one day on 21-12-2010. I got the bill from my broker for auction of that shares at 101 shares. Means I have traded intraday in above script valued about Rs 1 lac but I got the dabit Rs 5.10 lac. When I asked to my broker it has been known to us that auction (close out) is done on the highest price of the 3 days from 20-12-2010 to 21-12-2010.

    (3) Fact of this script (ZEE LEARN LTD)

    This script was demerged and listed on 20-12-2010, It start trading at Rs 15/- and traded whole of the day between Rs 15 to 21.

    Due to that I and number of people like me have lost that hard earned money in trading with NSE. Just think is it genuine to give a penalty of Rs 4.25 lac for total trading of Rs 1 lac only.

  32. Narendra Deo says:

    My metlife Policy nos are 00425091& oo425092.
    Narendra Deo

  33. Narendra Deo says:

    I have 2 policies of Metlife Insurence.Date of start of both is 27.11.2007.Surrender
    charges are very high.Ihave come to know that IRDA has issued Circular no414
    for standardisation of terms & conditions ofULIP products & is known as
    Regulation2010.The co is not accepting it.Iwant to know when it has been
    notified in Gazette?
    Narendra Deo

    1. Nagendra

      Its not applicable for old policies . And the main thing is whatever has happened will not be given back toyou now . Only the rules which are related to current time will be changed ,like if your per year charges currently is 2% , but IRDA said that it should be 1% , then only from now on it would be 1% , whatever has happened will not be given back


  34. mahendrakankriya says:



    i am small investor or trader in stock exchange ragistered with munoth capital market ltd.

    (1) First i purchased 5000 share of above script by trade no 67727878 at about 13:11 pm at 19.47 rupees share and after that I sold that shares wide trade no. 67865428 at about 13:48 pm at 19 rupees shares. Closing price of that share was about Rs 19/- After complating that i got this script was in trade for trade and that shares cannot be sold in same day.

    (2) After one day on 21-12-2010. I got the bill from my broker for auction of that shares at 101 shares. Means I have traded intraday in above script valued about Rs 1 lac but I got the dabit Rs 5.10 lac. When I asked to my broker it has been known to us that auction (close out) is done on the highest price of the 3 days from 20-12-2010 to 21-12-2010.

    (3) Fact of this script (ZEE LEARN LTD)

    This script was demerged and listed on 20-12-2010, It start trading at Rs 15/- and traded whole of the day between Rs 15 to 21.

    Due to that I and number of people like me have lost that hard earned money in trading with NSE. Just think is it genuine to give a penalty of Rs 4.25 lac for total trading of Rs 1 lac only.

    1. You should be mailing RBI on this


  35. mahendrakankriya says:



    i am small investor or trader in stock exchange ragistered with munoth capital market ltd.

    (1) First i purchased 5000 share of above script by trade no 67727878 at about 13:11 pm at 19.47 rupees share and after that I sold that shares wide trade no. 67865428 at about 13:48 pm at 19 rupees shares. Closing price of that share was about Rs 19/- After complating that i got this script was in trade for trade and that shares cannot be sold in same day.

    (2) After one day on 21-12-2010. I got the bill from my broker for auction of that shares at 101 shares. Means I have traded intraday in above script valued about Rs 1 lac but I got the dabit Rs 5.10 lac. When I asked to my broker it has been known to us that auction (close out) is done on the highest price of the 3 days from 20-12-2010 to 21-12-2010.

    (3) Fact of this script (ZEE LEARN LTD)

    This script was demerged and listed on 20-12-2010, It start trading at Rs 15/- and traded whole of the day between Rs 15 to 21.

    Due to that I and number of people like me have lost that hard earned money in trading with NSE. Just think is it genuine to give a penalty of Rs 4.25 lac for total trading of Rs 1 lac only.

    1. Mahendra

      You can complain in consumer forum or SEBI on this .


  36. Shakil Yusuf Sirnaik says:

    I had cancelled my credit card of stanchart on 28.10.2003. I received Full and Final settlement letter dated 28.10.2003 stating that my account has been closed. Now suddenly after more than 7 years I am receving Phone calls from M/s Shaha Finelease Pvt Ltd Mumbai stating that my name is appearing in CIBIL and if i want to cancel my name from CIBIL I have to pay Rs.2.75 Lakhs to them. Further they are statingthey are sole authority to delete the name from CIBIL. It is seen that stanchart have sold the details of cancelled card to above firm as scrap. Now this people are trying to extract money from closed card holder threatening with the CIBIL list. How can be details of card holders can be sold to collecting agency. In a age where collecting agencies are being put on leash for their arrogant talk, threats, pressure tactics , which have resulted in even death , it is shocking that the closed card holder’s details have been sold into collecting agencies hand,and now they are playing God. For a card cancelled 7 years ago asking for Rs.2.75 is nothing but blackmailing. They dont have fear of RBI also. Do what ever you want they say but you have to pay now or after wards. Sir it is requested to interevene in the matter and issue sutiable instructions to them, so that innocent people dont face such huge problem which result in depression and family’s life is disturbed. My whole family is in tension.

    1. Shakil Yusuf Sirnaik

      Can you mail me the details on my id . I dont promise I can do anything , but i might ask some people who can help


  37. Y.C.Kalia says:

    Ombudsman appointed by RBI has no teeth. Moreover the Ombudsman office is more influenced by private Bankers and common man is the sufferer, Recemtly I filled a complaint no: 20091001400004372 at the office of Ombudsman – New Delhi against Citibank – New Delhi. My complaint was for Deficiencies in Service in Closing my Account without any prior intimation or instruction from me, Citibank had siphoned off more than Rs.10.000 from my account by deducting Rs. 672 p.m. under the garb of service tax.
    Declining to pay us our remittance from abroad valuing Euros 10000 , approx. Rs. 7 lacs ,since they closed the Account .
    Influenced by Citibank personnel , who have free proximity in the office of Ombudsman, Ombudsman has given very vague observance and later terming the complaint as baseless and disposing it as ” Beyond the pecuniary jurisdiction of the Banking Ombudsman prescribed under sub clauses (5) and (6) of clause 12 . If the complaint was beyond his jurisdiction, where was the need for his one sided Observations and wasting 4 months , is it just to please Citibank personnel ??, who freely roam in the Office of Ombudsman at New Delhi , this fact was brought to the notice of Ombudsman in writing, but of no use.

    RBI guidelines regarding Closing of account:

    Closing of account without the instructions of the account holder would amount to deficiency in service. ( )

    were shown to Ombudsman and were given to him also during the meeting but he chose to remain silent on this , whereas the Deficiency of Service for Closing the Account is very much under the scope and jurisdiction of Ombudsman.

    Is it the Status of Ombudsman and his Office at New Delhi for which we hear a lot regarding helping common man from the clutches of such unscrupulous Banks.

    Is there anybody who keeps a check on such complaints whether they are dealt as per RBI rules and guidelines. If the above complaint is re-investigated, the Ombudsman himself can run in to trouble.

    A common man will think twice before going to Ombudsman with his complaint.


    1. Y.C.Kalia

      So you got the justice finally ?


      1. Y.C.Kalia says:

        No Dear , no justice , the matter is now at a different Forum.
        Justice is available at a price in India and justice delayed is justice denied.

        I will like if the matter is taken up by media or some NGO to expose corrupt practices.


  38. sunil kumar gupta says:

    dear sir/madam
    my name gomati gupta
    add: gehloti ki dungari dhola bhata
    suary nagar dhola bhata ajmer
    my policy in bajaj allianz life insurance company limited
    my policy number 21645031
    my policy name unitlinked
    data of commencement 06.07.2006
    frequerncy annual
    sum assured amount 100000
    sir my complants for year complacte iam 3 time premium pay 10000
    i not recived orgianal policy bound
    iam three time complants company policy bounds
    so u help me my policy give me
    gomati gupta
    cellno 9351512504

    1. Mr Gomti

      You should write to the company and threaten them that you will go to IRDA and other consumer complaint forums , they will get back to you , where is your agent ?


  39. Pingback: Personal Finance « Resources
  40. Vijay says:

    Hello Sir,

    As your site mentioned that, if we have any problems with our banks or
    mutual fund then first we should file a complain to that company.
    So, sir could you please tell me how we lodge a complain
    by personally or can be through e-mail.
    If personally then where should we complain.

    Thanks you
    Vijay Kumar

    1. manish says:


      Each company has a grivience cell and you can lodge a complaint there first .. you might get the info on their website or their local office ..


    2. suresh kumar vastrakar says:

      dear sir ,
      i would like to request to you to plz tell me how to complain.since i have completely fed up with their service.and thus i want to teach him a lesson..
      thank you

  41. rajwalia says:

    The grievances with respect to the Banks, Mutual Funds, Credit Cards, Insurance Company etc. can also be addressed effectively and transparently by consumer courts. Infact, the consumer courts are quasi judicial bodies and function more or less like regular court. The only difference is that there are less technicalities involved, it is speedier and low cost. The judges have sympathetic attitude and if the consumers have good case, there are many instances that they have been compensated handsomely. The consumers have now good options available to get their grievances addressed. The parliament should enact futuristic laws to strengthen the Consumer Courts, Consumer Grievance Forums and Ombudsman. This would take much burden off the Civil Courts, High Courts and Supreme Court of India. The jurisdiction should also be widened to bring in new scopes within their ambits.
    Rajinder Ahluwalia Advocate
    Supreme Court of India
    Consumer Rights Activist

    1. manish says:


      thanks for the information .. much appreciated 🙂


      1. rajwalia says:

        You are most welcome Manish!

    2. Y.C.Kalia says:

      The grievances with respect to the Banks, Mutual Funds, Credit Cards, Insurance Company etc. Ombudsman’s office is not the proper forum for complaining as Ombudsman has no teeth and no powers moreover they have proximity with almost all Private Banks and the public sufferer have mostly come empty handed from Ombudsman’s office.

      The appropriate forum is Consumer Court where the cases for deficiency of service/ harassment / mental agony are heard and duly compensated also. Consumer Court lawyers can handle the cases effectively.

      1. Also a lot of investors have no idea on how to complete the procedures involved with complaints


    3. jnmdeep31 says:

      Thanks for your effective solution approach for general consumers.

  42. Manish Chauhan says:

    Thanks Yogi … Incase you have any more information , please add it


  43. Yogi says:

    Good Info..!!

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