Here is an account of how ICICI bank prevented me access for weeks to my own money kept in an ICICI bank savings account. They lost account documents, lost the resubmitted documents, denied it like cheats, locked my account without any intimation.
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This is to bring to your attention gross deficiency in service by ICICI Bank, Powai Branch that has caused tremendous financial loss, mental agony and harassment for me.
I have a savings account, a/c no. xxxx-xxxx-xxxx with ICICI Bank Powai Branch. On July 11, 2008 I discovered that my account has been put under debit freeze by ICICI bank and hence I am unable to withdraw any money.
On complaining to ICICI bank I received the attached letter dated July 21, 2008, mentioning that the account has been put under debit freeze due to loss of account opening documents in the Mumbai floods that happened on July 26, 2005.
I wonder who gives ICICI Bank the authority to place any account under debit-freeze for loss of documents from the bank’s custody.
Also, I herewith provide evidence that the points made in the letter by ICICI bank towards the reason for placing the subject account under debit-freeze are factually incorrect and the only reason is gross incompetence and deficiency in service by ICICI bank.
(1) …“In view of this, we had sent letter dated November 17, 2006 and reminder letters dated January 23, 2007 and April 4, 2008 to you requesting submission of fresh Account Opening Form and documents to replace the damaged documents. We wish to inform you that despite our intimation, the re-submission / re-execution formalities for the documents had not been completed by you.”
I have a copy of electronic correspondence(Annex. A) with ICICI bank in March 2007 for confirmation of collection of the required documents by an ICICI representative from my residence at Jaipur.
Further to this, I had also confirmed with ICICI Bank helpline that collection of the documents have been updated in their system. The same can be verified by checking ICICI system records, reference number SR19981314.
(2) No request letter dated April 4, 2008 for submission of the documents has been received by me at all.
The above proof clearly establishes that ICICI Bank, Powai Branch has made gross deficiency in service by placing my account under debit freeze in an arbitrary manner without sufficient and valid reason.
Due to this deficiency in service by ICICI bank I could not utilize funds to the tune of Rs. 2, 89, 365.72 lying in my account and had to suffer financial losses in excess of Rs. 5 lacs in addition to the mental agony and harassment.
Absolutely unethical bank, refuse to accept and own up their callous mistakes.