Icici cheats - period.
I bought gold @ 99000 rupees per 50 gm on 21 march 2010; they don’t buy back the gold. Tried knowng the selling price it was 83000 inr, market price on the same day.
99.99 certificate and backing can certainly carry a premium - but to what extent? And why should one buy the gold? They did not give invoice; icici pure gold prices are never updated in the website or anywhere. They claim its market rate. They are running a big fraud jewelry in the name of bank and the trust that customers will have in a bank.
Request attention of the consumer protection forums and public interest litigation and other NGOs to do something about it. Here is a bank that cheats - why should we bank with icici. There is also an issue of business ethics, when they claim their prices are determined by market rates. Never ever buy gold or any investment products from icici. They do not have the basic trade ethics. They do very unfair trade practices.
If there is any icici management team responding to this, please declare what was your pure gold price per gram on 21 of march 2010 and the market price on the same day.