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Better to go to RBI Ombudsman, it is pretty good. Didn't it resolve the first time you complained to them? What was your issue about?Thank you. Have asked this in another thread in another context - is it better to go to the Ombudsman or the consumer courts? I have gone to the ombudsman once, and have never gone to the consumer court.
I guess one can't go to both?
It was technically a success, but no relief for me.Better to go to RBI Ombudsman, it is pretty good. Didn't it resolve the first time you complained to them? What was your issue about?
Sorry to hear that. When taking home loan they make it so troublesome that we become negligent and miss the TnC, even if we read it, at that point we need the money to close the transaction so we accept all charges and insurances which are not mandatory.It was technically a success, but no relief for me.
Basically, had taken a HL from SBI. A debit of 12,000 was there in the account, which SBI absolutely refused to explain. Went to the BO, which compelled the bank to reply that it was property insurance. Wasn't able to get the money back because somewhere in the fine print I consented to it.
Even if the TnC mentions it, if you think the TnC is not fair you can approach the Consumer Courts and they often rule in favour of the customer if there is truly unfair trade practice or deficiency of service, their TnCs do not absolve them from these charges despite mentions.It was technically a success, but no relief for me.
Basically, had taken a HL from SBI. A debit of 12,000 was there in the account, which SBI absolutely refused to explain. Went to the BO, which compelled the bank to reply that it was property insurance. Wasn't able to get the money back because somewhere in the fine print I consented to it.
This is bad practice. As long as the account is active, they can charge the periodic charges( sms, dc etc). technically they can report it also. Just because you didn't avail a service, doesn't mean they didn't provide it. Why take on unnecessary mess for small change? You never know when you'll need their services in future.For Bank accounts the easiest way is withdraw all the money from the account and leave it.
See in case of dispute, court always favours the party who didn't formulate the contract I e. You. But only when it seems that they intentionally tried to deceive you. Either by burrying in fine print, making it unnecessarily lengthy filled with jargon.Wasn't able to get the money back because somewhere in the fine print I consented to it.
It seems your complaint worked,RBI is working on it🤣Okay, now facing a different issue. Can an account not being KYC complaint be a reason for not closing an account?
Context - Paytm suspends my Paytm payments account without warning for not having KYC. Tried to do KYC 6 times, and each time the video verification did not succeed for nonsensical reasons like "Poor video connection". The latest was when the KYC person said "earphones use kijiye" to which I replied that earphones are not available, and then the person proceeded to disconnect the video kyc.
I then raised a ticket to close my account, where they asked for a cancelled cheque, which I provided.
Now they're providing nonsensical excuses like "You have a merchant payment setup at xyz...", which I didn't find in the app. However, I removed all benefeciaries from my paytm payments bank acccount, which it seems was enough to clear that stage. The next person called and said that she could not close the account because it was frozen, but she said she'd ask the team to fix it.
Independently raised a complaint to the nodal officer, complaining that excuses were being invented to prevent account closure. Now the nodal officer is behaving obtusely and is asking me to get KYC done (while ignoring that the complaint was about clousure. Did not even say that account could not be closed for non KYC... just plain ignored.)
Any suggestions? Have around 5000 a/c balance. Should I wait 30 days and approach the ombudsman?
PS: never had issues with video kyc with anyone else. Got it done in the first or second attempt everywhere else.
It seems your complaint worked,RBI is working on it🤣
Great timing for withdrawal of shares.I had a bad feeling about this. I even tweeted asking people to close their accounts in December. I had closed my Paytm postpaid some months back (basically din't want another credit instrument). I then proceeded to sell my shares, which were trading at 600+ at the time.
What seems to have happened is that the RBI had been tightening already, and this was an unprofessional and knee jerk reaction to earlier process flaws.
Indeed! Just checked my trade book - Sold at 637 for a loss of ~15%. Could have been much worse!Great timing for withdrawal of shares.