I am sharing this experience for consumer awareness and fair resolution.
My actively used Citi-migrated savings account (ending 8222) was unilaterally closed by Axis Bank citing RBI BSBDA guidelines, while another account under the same CIF (ending 0490), which had remained inoperative for over 10 years and was already under DEAF status, was retained.
The core issue is not the RBI guideline itself, but the manner in which it was implemented.
Key concerns:
• No explicit consent was obtained before closing the active account
• I have repeatedly requested proof of delivery/acknowledgment of the alleged communication dated 04-Dec-2025, but no such proof has been provided
• Multiple dividend payments linked to the closed account were returned unpaid, causing financial loss and inconvenience
• Cheques issued from the account were exposed to dishonour risk and reputational damage
• The bank has continued to rely on “systemic process” without addressing the actual financial impact caused
The retained account had reportedly been inoperative for over a decade and classified under DEAF. I was not even aware that this dormant account still existed.
Despite repeated representations, the bank has refused reinstatement of the operational account and denied compensation.
The matter is presently under the Integrated Ombudsman Scheme before the Reserve Bank of India.
Posting this for consumer awareness and hoping for a fair and practical resolution.
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