Negligence Of Axis Bank In LIC Platinum Credit Card

POSTED BY Debaprasad Bandyopadhyay ON March 16, 2013 8:01 pm COMMENTS (8)


Callous Axis Bank did not follow my standing instructions/mandates on 6 LICI policies, the premiums of which are to be deducted from my LICI Platinum card. They created a mess by paying 4 policies’ (413929090 DOC: 28.05.96. Prem. Rs. 4126, 1.Policy No. 414151311 DOC: 28.06.98 Prem: Rs. 2700;  2. Policy No.414151284, DOC: 28.06.98. Prem: Rs 2676;  3. Policy No. 577936010 DOC: 28.06.09 Prem: Rs. 10156) premiums after almost one and half months of the due date & charged penalty. I did not pay the late fees and gave the exact amount to Axis Bank within due date. I am receiving several unsolicited  calls, e-mails, SMSs, couriers  for the non-payment of such dubious deductions since last six months. Therefore, I need to have compensation of Rs. 500000 INR for causing mental agony, depression, frustration, wasting my time, obstructing central government employee’s duty & above all, causing lapses in policy-premium payments. etc.




  1. I have a Platinum LIC card no. 46XXXXXXXXXX2141
  2. I have standing instruction for 6 policies, which are to be deducted from my LIC card.
  3. One of them is: 413929090 DOC: 28.05.96. Premium Rs. 4126
  4. As the scheduled date of payment was just 3-day-before the activation of card (1 June, 2012), I asked (date not remembered) the customer care through my registered mobile ( +91930630707)for following clarification: May I have to pay it or you? The answer was: “No, you have to pay this”.
  5. Therefore my agent took the trouble to pay it on 28/06/2012. [transaction ID:24529657]
  6. I received an SMS from LIC card Service on 07/07/2012, 5.46.36. p.m. that stated: “You have a new LIC for Rs. 4153.60 due by 11/07/12…”
  7. I was surprised and worried as I do not have such policy with such amount.
  8. I immediately called Customer Care. They do not pay any heed to my problem and said that they would do according to the LIC’s instruction. And I must have to contact LIC for cancellation of such erroneous instruction. They refused to take any complaint or necessary action.
  9. And LICcard spent Rs. 4153.60 (with penalty) on 9th. July for nothing.
  10. Therefore I was bound to pay twice: one without late fee and another with late fee.

I am totally disturbed by the matter and dissatisfied with the LIC-Axis Bank ’collusion’–the network is still incomplete, i.e. the information flow in this newly launched service is yet to be rectified. My earnest request is that first establish co-ordination with LIC, then launch such service.

The last question: how should I be compensated for such harassment? Why should I and my agent spend valuable time for such technical fault? You do spare my tinniest fault. You are too privileged and getting more relative importance than underprivileged customer.



This is to inform you that I’ve three other policies, which were under the mandate:

  1. Policy No. 414151311 DOC: 28.06.98 Premium: Rs. 2700;  2. Policy No.414151284, DOC:28.06.98. Premium: Rs 2676;  3. Policy No. 577936010 DOC: 28.06.09 Premium: Rs. 10156.  

In case of all these 3 policies, my instructions were not followed and charged with late fees. I did not pay the late fees and gave the exact amount to Axis Bank. My logic is: why should I pay late fees, when my standing instruction clearly shows the last dates of three premiums? It is not my FAULT!!! My policies had lapsed due to their negligence. Who would be responsible if something had happened to me? I’m totally disappointed with Axis Bank service. Moreover, Customer Care personnel are useless chaps –they, could not help me in this regard. Therefore, I’ve cancelled all the standing instructions.


I am  receiving several unsolicited phone calls, e-mails, SMSs, untimely knocking of  courier-persons  for the non-payment of such dubious deductions, though I am repeatedly telling  them not to disturb me. I had got a call (when I was going to switch off my cell) from 03330085019 on 10. 12. 12. at 4.16 p.m., when I was going to present my research paper at an international symposium at Bengaluru. The person refused to tell me his name and  threatened me rudely and my presentation was affected badly for such call though I requested him that before calling person, as a part of civility, he should ask, “Are you busy?”. However, he said, “I don’t wish to learn anything from you.” From that time I’ve decided not to attend such call from unknown/anonymous person. Even I have got this type of defamatory messages: “Your a/c has been under serious non-pymnt issues for a period of time. This will have severe implication to your credit history.Repayment defaults on your existing loan account will hamper your ability to avail of any new loans and facilities.Pls settle your a/c immedtly to avoid severe repurcussions out of legal action.Pl contact us on 033-44072720 to assist you on repaymnts (sic) of your debts.” (received 01:16:19 pm, 06-03-2013) It is something more than surprising!


My son commented on this mess, “I’ve to read history, but Axis Bank does not know the history of customers–poor students! Without knowing pros and  cons of LIC card transactions, they are disturbing my parents. They are launching LICI credit card without any co-ordination with LICI. They do not follow my father’s standing instructions.” This moron bank could not understand simple chronology that even a child can make out.

Therefore, I need to have compensation of Rs. 500000 INR for causing mental agony, depression, frustration, wasting my time, obstructing government employee’s duty and above all, causing lapses in policy-premium payments. etc. And I am earnestly requesting LICI to get rid of this moron Axis bank, which has many forgery cases done by their management stuffs along with money laundering cases. 

8 replies on this article “Negligence Of Axis Bank In LIC Platinum Credit Card”

  1. Debaprasad Bandyopadhyay says:

    1. Yes, he has paid it by depositing the cheque. I have the receipt.
    2. Lic premium credit card is meant for paying the premium.

  2. Dear Debaprasad, thanks for the update & keep on fighting.



  3. Debaprasad Bandyopadhyay says:

    1. The service provider of LIC card is Axis Bank, a moron, bitten by Cobra(Post).
    2. It’s their fault, not mine! They paid it after due dates, thus my mandate was not followed.
    3. Therefore, they should pay the late fees–not me as I had cleared the full outstanding amount (Rs. 15,532 for three policies) charged for the LIC card except the late fees. It’s their duty to pay late fees.
    4. I don’t pay that Rs. 4126+ late fine (Rs. 4153) to Axis Bank as I had already paid that after informing them.
    5. Disagreed with the suggestion, “ should had pay out the late fee & other charges & then only fight it out.”

  4. Dear Debaprasad, I’m also talking about the late fee applied on your card dues.

    For your Card, the start date was 1st June where as the prem. due date was 28 May, so where is the fault of the card issuer? Regarding failing of standing instructions, it’s not very uncommon that SIs put up by us, failed. At the very start of this trouble, you should had pay out the late fee & other charges & then only fight it out. Now the mental pain you are facing could be avoided.



  5. Debaprasad Bandyopadhyay says:

    Ashal Jauhari, I’ve cleared all the dues to LICI. What I had not paid is the late fees charged by LIC card. Kindly read my review carefully.

  6. Dear Debaprasad, why are you not paying the dues? Paying LIC prem. is your liability. If the set up created by you for standing instructions fails due to any reason, first you should rectify the prem. payment part & then only fight it out.

    Please contact banking ombudsman for your complaint.



  7. Debaprasad Bandyopadhyay says:

    1. Mistake-2 is not a mistake at all as that premium was not under the purview of my standing instruction. That was scheduled to be paid on 28/05/12. My mandate for LIC card started on 1/6/12.
    2. Pl. note the transaction ID:24529657 for that policy. My agent paid that.
    3. …But why my standing instructions were not obeyed at all in cases of 3 policies??? All were paid with late fees. Whose mistake is it? My policies were in lapsed condition due to the negligence of Axis Bank.

  8. Mistake 1: Having standing instructions with a credit card
    Mistake 2: having an agent pay premium.
    Online or offline a receipt is generated. If that is available rest of the hassles could have reduced or even avoided. Is there one? Did the agent actually pay it?

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