Bank fraud/severe violation

Approach a lawyer well versed with such matters and demand everything in writing under proper acknowledgement from BM,MD.. Pursue RTI route thru RBI if BM/Bank/bankers does not revert properly. Of it is IT FRAUD BANK IS RESPONSIBLE AS PER RBI GIDELINES. DCDRF,IT adjudicator of the state can also be approached.

Its a bit complicated case since it involves the internal functioning of the Bank. The responsibility of the Bank to you is limited to compensate for any loss you have suffered because of the inefficiency of the Bank. The other thing is that it is the responsibility of the account holder also to keep checking his account on regular intervals and ensure that everything is in proper shape. Any transaction not carried out by the A/c Holder or any debit or credit not attributable to the a/c holder are also to be informed to the Bank by the a/c holder.

Undergoing a detailed investigation from 1984 onwards and auditing the account may not be practical. It may cost you a bomb in CA charges etc and yet you dont get anything out of it except that your account has been trespassed. If that is found, it will go with the internal efficiency of the Bank and the Bank may not be liable to pay you any damages.

The first and foremost thing you should do is ensure that all your transactions-credit as well as debit --have been properly accounted for and you have not suffered any loss. Secondly, you have to make a formal complaint with the regulator-in this case RBI from vigilance angle.

Other than that, you dont have much remedy available, in my humble opinion. However, in case you have suffered a loss for which you have proofs like documents,receipts etc., you can approach a Court of Law for recovery and other compensation.

You may contact other experts also who may have different views.