Worst experience with Indusind bank pioneer banking program

[Madhur15]

I have opened a indusind bank pioneer account on 5th of Aug and initial funding cheque was cleared on 12th of August but still funda are not yet credited to my account and still account is not activated.

My funds are completely blocked and can't be used until that account is activated and I receive the netbanking/debit card.

Please suggest if I can escalate them to RBI level and how and what kind of penalty/compensation I can ask from the bank if there is any rule from RBI?

Please advise.

 

[Skylar]

Please suggest if I can escalate them to RBI level and how and what kind of penalty/compensation I can ask from the bank if there is any rule from RBI?

For this first you have to complain to IndusInd bank and give them 30 days' time to rectify it and if they fail to get it done in 30day then only you can complain to RBI.

 

[zacobite]

I have opened a indusind bank pioneer account on 5th of Aug and initial funding cheque was cleared on 12th of August but still funda are not yet credited to my account and still account is not activated.

My funds are completely blocked and can't be used until that account is activated and I receive the netbanking/debit card.

Please suggest if I can escalate them to RBI level and how and what kind of penalty/compensation I can ask from the bank if there is any rule from RBI?

Please advise.

RBI from day 1 If you are unhappy move to another bank.. RBI is not for every miss in the process.. this is just the beginning.. Banks have become v inefficient.. you have to plan and manage most of it...

 

[flyingSingh]

I have opened a indusind bank pioneer account on 5th of Aug and initial funding cheque was cleared on 12th of August but still funda are not yet credited to my account and still account is not activated.

My funds are completely blocked and can't be used until that account is activated and I receive the netbanking/debit card.

Please suggest if I can escalate them to RBI level and how and what kind of penalty/compensation I can ask from the bank if there is any rule from RBI?

Please advise.

If the reported complaint is not resolved within 30 days by the bank, file a formal complaint on RBI ombudsman and send a show-cause legal notice to the bank's registered office and the branch you completed your account opening process with. If still the bank isn't ready to act promptly, then approach the DCDRC (district consumer disputes redressal commission) in your area and file a petition. You have a full right to claim 12-18% interest on the amount blocked by the bank and additionally the judiciary body will compel the bank to pay a fair monetary compensation for the mental agony you faced and cover your litigation charges. Would highly recommend consulting a lawyer specializing in banking disputes before proceeding to DCDRC.