ABN AMRO Credit Card — cheated for insurance

Greetings:

I own a ABN AMRO credit card. There was a call from ABN AMRO stating that I have a preapproved loan of 50000 rupees and the repayment for this is 2500 rupees (approx) including 160 rupees insurance, so totally within 2700 rupees (approx) for 24 months. I refused the insurance, but was told that it is compulsory for the loan security purposes. I did not get any loan from them, but the insurance amount alone got deducted from my credit card account. I called the bank and enquired them, but was not given any proper reply. I told to cancel the insurance, but was told that cancellation charges of around 450 rupees will be deducted. I am losing money for no reason. I was literally cheated. I think I have been trapped for insurance using the loan scenario. Please look into this.

wr

J. David.