Bank of India blocking funds.

[SoggypastA]

Hi, My father was government servant posted at rural area and all transactions were done in Bank of India branch of same area. Now my father expired but we kept that account active cause some job related transaction are pending, and we live at our hometown now.
Now somehow the savings account balance is showing in negative and my brother inquired at local branch they said the amount is linked to some scheme and I have to talk to home branch but the branch manager is not picking calls and the local branch is offering no help.
I raised a grievance at the bank site 3 days ago no reply or acknowledgement received.
It was a joint account of my parents and no one gave consent or any sign to go ahead with that scheme or whatever it is. What should I do now?
Any suggestion will be much appreciated.

 

[Souvik]

Depending on what product they mis-sold your dad, you need to take suitable action. Government banks are very difficult to get through so I generally stay away from them.

Try escalating amongst various levels of Bank of India, if that does not work switch to Banking Ombudsman. https://www.bankofindia.co.in/Details/BankingOmbudsmanScheme

It might take a bit of time, so be patient and be vigilant. Do not trust bank's executives till you see it in black and white/on paper. What is the magnitude of loss ?

 

[BankExpertIndia]

One Piece Of Advice : Try Only Pubic Banks When You Have Some Connections In The Branch To Get Your Work Done.

 

[SoggypastA]

Depending on what product they mis-sold your dad, you need to take suitable action. Government banks are very difficult to get through so I generally stay away from them.

Try escalating amongst various levels of Bank of India, if that does not work switch to Banking Ombudsman. https://www.bankofindia.co.in/Details/BankingOmbudsmanScheme

It might take a bit of time, so be patient and be vigilant. Do not trust bank's executives till you see it in black and white/on paper. What is the magnitude of loss ?

Around 50K

 

[Souvik]

Around 50K

I hope not but these unscrupulous bank salesmen would have used that money for investment products and would have earner commission on that.

 

[SoggypastA]

I hope not but these unscrupulous bank salesmen would have used that money for investment products and would have earner commission on that.

I think the branch manager has his hands in this he's not picking calls. He called my brother few days back with some scheme but my brother was busy so told him to call later.

 

[Souvik]

I think the branch manager has his hands in this he's not picking calls. He called my brother few days back with some scheme but my brother was busy so told him to call later.

For your benefit they would never call you/pick your call, they will only call you to resolve their commissions/incentives/sales.

Now since you well understand who you are dealing with keep things documented so that you can use them in the future. Recorded calls can work but mails are better.

 

[BankExpertIndia]

I think the branch manager has his hands in this he's not picking calls. He called my brother few days back with some scheme but my brother was busy so told him to call later.

Make A Complaint With RBI Ombudsman

 

[ashwinkashwink is verified member.]

I hope your issues resolve soon .

 

[AllSeeker]

See, there is little problem here, don't mind me saying this but there are certain regulations to follow when a/c holder passes away, in your case its joint a/c so basically you should have submitted death certificate and converted it to single holding a/c (I assume of your mother). Also, this is to be done in some specific time period. I'm not sure how much atm, but there is time limit.

I think Bank has taken advantage of you knowing full well that there is possibility to get away with it, but if your brother has recording of the said call, I think this could make into a good case in RBI banking ambushments.

These issues are common when banks know your weakness and are willing to play it. Many people fall victim to it.

 

[LordVoldemort]

Hi, My father was government servant posted at rural area and all transactions were done in Bank of India branch of same area. Now my father expired but we kept that account active cause some job related transaction are pending, and we live at our hometown now.
Now somehow the savings account balance is showing in negative and my brother inquired at local branch they said the amount is linked to some scheme and I have to talk to home branch but the branch manager is not picking calls and the local branch is offering no help.
I raised a grievance at the bank site 3 days ago no reply or acknowledgement received.
It was a joint account of my parents and no one gave consent or any sign to go ahead with that scheme or whatever it is. What should I do now?
Any suggestion will be much appreciated

Sorry for your loss
If you are sure that your father might not have agreed to such a scheme or if you think that the subject scheme is active after his passing away, I suggest you to mail your query to the bank's official customer care id and the branch id. After waiting for a couple of working days, Please proceed to launch a case at the ombudsman about the same along with screenshots of the sent mail. Please don't forget to claim charges for the mental agony caused too