rv124
TF Buzz
Hi everyone,
I'm posting here to seek help and guidance regarding a serious mis-selling issue I faced with ICICI Bank related to their Adani One Signature Credit Card.
Here’s what happened:
I even spoke with a service desk officer on May 6, and requested the call recording where the “lifetime free” commitment was made. Despite follow-ups, the recording was never shared.
Finally, I received a response from ICICI admitting that “incorrect information was provided by their official”, but they still refused to honor the lifetime free benefit. They offered to waive the 1st year only and mentioned standard ₹6L spend waiver rules from 2nd year onward.
Due to this, I have already escalated the issue to RBI Banking Ombudsman via the CMS portal, and I’m also seeking compensation for the mental stress and loss of time caused by this blatant mis-selling.
Has anyone else faced something similar with ICICI or other banks?
How successful have compensation claims been in such mis-selling cases?
Any advice, support, or suggestions would be appreciated.
Thanks in advance,
Reddyprasad Vankireddy
I'm posting here to seek help and guidance regarding a serious mis-selling issue I faced with ICICI Bank related to their Adani One Signature Credit Card.
Here’s what happened:
- On 20th Feb 2025, I received a call from ICICI (from number 022 6904 1078) offering me an upgrade to the Adani Signature Credit Card.
- The Phone Banking Officer clearly assured me that the card is lifetime free.
- Based on that assurance, I accepted the upgrade. There was no welcome email or any other document sent. The call was the only source of information.
- Later, I was shocked to learn that the card is only free for the 1st year, and from the second year, they will charge ₹5000 + GST annually.
- I raised a complaint (SR1041192989) starting from March 2025 and escalated it through Level 1, 2, and 3, including to the Principal Nodal Officer on June 17 and June 26 — but received no proper resolution.
I even spoke with a service desk officer on May 6, and requested the call recording where the “lifetime free” commitment was made. Despite follow-ups, the recording was never shared.
Finally, I received a response from ICICI admitting that “incorrect information was provided by their official”, but they still refused to honor the lifetime free benefit. They offered to waive the 1st year only and mentioned standard ₹6L spend waiver rules from 2nd year onward.
Due to this, I have already escalated the issue to RBI Banking Ombudsman via the CMS portal, and I’m also seeking compensation for the mental stress and loss of time caused by this blatant mis-selling.
Has anyone else faced something similar with ICICI or other banks?
How successful have compensation claims been in such mis-selling cases?
Any advice, support, or suggestions would be appreciated.
Thanks in advance,
Reddyprasad Vankireddy