PPF complaint against ICICI Bank’s Error

POSTED BY Gaurav ON May 23, 2013 10:15 am COMMENTS (4)

4 replies on this article “PPF complaint against ICICI Bank’s Error”

  1. Gaurav Doshi says:

    Thanks ICICI Team for the reply.
    Only today I have recived a call from your central product team mentioning it will take 2-3 days as they will have to take RBI approval. Hope so gets resolved.


  2. Dear Gaurav, please wait for the outcome of ICICI’s own solution for your complaint.



  3. Gaurav Doshi says:

    Hello All,

    I have last year opened an PPF account for my daughter (MINOR acc) with ICICI bank. It go sucessfull linked to my savings account. Till date I have deposited around 80k rs and have also earned interest on it. ICIC does not provide and passbook or so, therefore only online linking was good enough option for me. I have also based on the investment declared my tax calculations.

    My SELF account was with State Bank of Bikaner and Jaipur for last 5 years. Recently when I applied for the transfer of my account from State bank to ICICI. ICICI tell me that the account with ICICI is not on name of minor but it is my (selfs account).

    At the time of MINOR account openint I submitted all the documents including birth certificate of my daughter. Later ICICI acknowleges that it is an error from their data entry team.

    Now apparently I have 2 PPFs account on my name (which is illegal). I cannot even close any of the PPF account before 15 year.

    I am in touch with ICICI team at PUNE shivaji nagar branch for almost last 20 days and still awaiting their revertal. They have raised it to their central product development team. I am not sure when will it get resolved.

    I want to raise a complaint to PPF authorities / RBI agains ICICI’s gross mistake. Any suggestions what can be done.


    1. ICICI Bank Care says:

      Dear Mr. Doshi,

      We are sorry to hear about your experience. Please send us your contact details at care@icicibank.com and our official will get back to you soon. Kindly refer ‘4316246’ in the subject line.

      ICICI Bank Customer Service Team

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