1. The account balance has remained below 20, 000 right through 2022 and also for most periods since 2020. There was no instance of alert or recovery of any NMC. This was started only in Jan 2023 for the months of Nov and Dec 2023.
2. The charge of 6% per month on the shortfall translates to 72% p.a. !!! This is usurious and violative of any sense of natural justice.
3. Such a high NMC should be brought very specifically to the notice of the account holder at the time of account opening. I may mention to you this account was opened in Oct 2017 at the request of your local branch official who personally approached me for canvasing the same and arranged for the account opening at my house. I had clearly mentioned that I had wealth management relationships with other banks and hence will make very limited use of the account. This will be evident in the account operations since then. But the bank representatives virtually pleaded for the account.
4. Notice also of the shortfall should have been sent prior to the levy of the charge. The entire information is tucked away deep in your website and escapes attention.
5 while on escalation teh bank quietly refunded the illegal fees, they continue to maintain that the charge is as per their rules Was this information helpful? | 
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