ICICI Bank cheating .. goes againts RBI norms ,..

Issue notice to the bank to withdraw the seizer within given time, if bak failed then file a consumer case.  Bank is no authroity to seize SB a/c at the most they could have initiated to recover your dues legally.

try to approach  banking ombudsman.

Give a complaint to police, Go to Banking Obudsman, RBI and can also go to Consumer forrum for irregular services and treating you in criminal way.  As per Law no one can loot your money forcefully even if you are liable to pay to him/her.  Entertain your legal rights immediately.

Take strict actions without delay as suggested by Mr. Raju.

Thank you every one for the suggestion.

I have initiated an email to the RBI Ombudsman. Let see if they do something.

Meanwhile, can any one of you clarify as per rule, is the bank allowed to withraw money or seize the Saving account of the customer without informing, towards any kind of Credit Card due or outstanding of the same customer. I think both are different departments and it should be illegal to transfer fund or seize Saving account of a customer who survives on it ... with our any legal approach or permissions ??

May I have all yours valuable input on this kind of activity from the bank ....

Thank you every one for the suggestion.

I have initiated an email to the RBI Ombudsman. Let see if they do something.

Meanwhile, can any one of you clarify as per rule, is the bank allowed to withraw money or seize the Saving account of the customer without informing, towards any kind of Credit Card due or outstanding of the same customer. I think both are different departments and it should be illegal to transfer fund or seize Saving account of a customer who survives on it ... with our any legal approach or permissions ??

May I have all yours valuable input on this kind of activity from the bank ....

Thanks,

Sonia S

Bank has legal right which is called Banker's lien and also a right to set off. In simple terms it means that you owe money to bank under credit card and bank owes money to you due to credit balance in your savings bank. Bank can exercise its right of lien and set of your liability.  Further, the credit card agreement normally contains a clause giving right to the bank to appropriate credit balances in any of accout in the event of default in payment of dues. 

Bank is required to give you a written notice well in advance, to pay amount due to the bank as per their, own record i.e. principle amount+interest+penalties, or bank shall create a lien and or debit the amount. Did you receive any such notice? Bank can conveniently claim notice was sent by normal post. While you were always available on phone and attending to their phone calls, why the bank did not fix up appointment to deliberate on the matter with you and issue the minutes and appropriate advice to you in writing.

Bank are known to play tricks e.g. the notice shall reach you on or after the date fixed by bank in their notice, or the notice shall not reach you at all.

RBI guidelines are available at their website.

In your post you have mentioned that bank has seized your account, which could a lien has been created.

You can find out if bank has debited any amount. Pls note bank shall continue to levy interest, penalties even after creating the lien i.e. if you do not settle the matter, or get the lien vacated, whole amount may get set off and then bank may claim pending amounts.

You have mentioned that you have expressed to the bank that you willing to settle the amounts by payments from your end and bank has not offered you any settlement plan.

You should have the records of all phone calls, its date and time , phone numbers from which calls were made , name designation department address of the calling person, and at which calls were received, transaction number assigned to transaction on phone.

You may get in touch with a local lawyer having expertise in such matters.

you first give the strong letter to the bank saying your problem in writing and also mention about the saving bank a/c and tell them to remove the block to operate the same for day to day needs which they have illegally blocked and mark the copy to the chairman and copy to rbi

subodhkumar     e.mail: daxkumar_123@rediffmail.com