Hi
I opened an Union Bank of India account about 3 years ago, during the account opening time I was automatically enrolled into APY (Atal Pension Yojana) I do not remember giving approval for that.
A bit about APY for the uninitiated it is a pension scheme where in you pay certain amount (usually less than 400 for 20s) every month until you turn 60. After 60 you will get 1000 to 5000 per month based on what you paid.
I did not close the APY account after learning about it because the cost is very minimal and even after inflation and everything in 60s, it might be worth something right.
I was enrolled in 1000 pension scheme so when I had sometime I raised a request to bank to increase the contribution so that I'll get 5000 (This was done last year thrice), but bank never acted on it saying some issues.
I too left it like that, but today I got a mail saying my APY account is closed. I never gave authorization to close the account and I did not get any prior intimation that my account is being closed.
I reached out to both Bank (in-person) and APY (call center), bank is claiming that they never did that while APY is saying that they got a request from my bank's branch.
Now, I can't open the account again because those who are paying IT (which I am) can no longer open APY accounts as rules implemented last year.
Whom should I contact to get my account reinstated (any idea) and How do I escalate this in Union Bank of India or Protean?
Branch Manager is saying that I have to wait until 10 days for vice manager to come back to take a look into the situation, I do not want to waste my time.
Any suggestions what I need to do here ?
I opened an Union Bank of India account about 3 years ago, during the account opening time I was automatically enrolled into APY (Atal Pension Yojana) I do not remember giving approval for that.
A bit about APY for the uninitiated it is a pension scheme where in you pay certain amount (usually less than 400 for 20s) every month until you turn 60. After 60 you will get 1000 to 5000 per month based on what you paid.
I did not close the APY account after learning about it because the cost is very minimal and even after inflation and everything in 60s, it might be worth something right.
I was enrolled in 1000 pension scheme so when I had sometime I raised a request to bank to increase the contribution so that I'll get 5000 (This was done last year thrice), but bank never acted on it saying some issues.
I too left it like that, but today I got a mail saying my APY account is closed. I never gave authorization to close the account and I did not get any prior intimation that my account is being closed.
I reached out to both Bank (in-person) and APY (call center), bank is claiming that they never did that while APY is saying that they got a request from my bank's branch.
Now, I can't open the account again because those who are paying IT (which I am) can no longer open APY accounts as rules implemented last year.
Whom should I contact to get my account reinstated (any idea) and How do I escalate this in Union Bank of India or Protean?
Branch Manager is saying that I have to wait until 10 days for vice manager to come back to take a look into the situation, I do not want to waste my time.
Any suggestions what I need to do here ?
