Worst experience with Indusind pioneer banking program

[Madhur Pareek]

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.

 

[helloworld]

compensation depends on rbi based on your case. its upto them but you can ask upto 1L.

only solution in your case is through branch correct the activation issues and get it. no matter whether you raised issue through email, support it ultimately reaches to branch. so check with branch for activation related.

 

[Madhur Pareek]

compensation depends on rbi based on your case. its upto them but you can ask upto 1L.

only solution in your case is through branch correct the activation issues and get it. no matter whether you raised issue through email, support it ultimately reaches to branch. so check with branch for activation related.

Branch is saying we are doing it and will do it by this and just apologising, nothing else.

But I thought if we have any RBI rule which says if your cheque or fund didn't credited to your account so you ask per day penalty.

I am not sure whether this applicable in my case or not, since I am still waiting for my account activation and cheque was cleared 3 days back.

So please suggest if you feel if there is any RBI rule which can be applicable in my case.

 

[helloworld]

not sure but still that needs proper follow-up and wait for 30 days to open ticket.

can search here: https://www.rbi.org.in/Scripts/BS_ViewMasterDirections.aspx

Will let you know if found anything.

 

[DDYYMM]

You can ask fund credit date should show as cheque cleared date to branch.otherwise interest of same.