[Resolved]  Kotak Mahindra Bank — Non Maintenance of Account balance

i working as a dra of kotak bank ltd for one year i working well howsome they are not responting my salary

This is the worst Bank in India, Personal Loan officers are un-professional and illiterate. I have take PL and due to my financial crisis (recession) I have not been able to pay last month EMI and Bank official looks like Gunda's came to my home and harassed me.

I am in very bad posn, do not know what to do.

Can any one one knows about Law... If I lodge a complaint on Kotak Mahendra Personal Loan recovery , is there any thing which I can benifit?????

Kotak Mahindra Bank is one of the worst bank which i ever have seen. I am working as a life insurance agent at Kotak Life Insurance Ltd., for which i get a commission on the policies which i have got to the company & the commission amount will be credited to my kotak mahindra bank which was opened by kotak Life insurance company itself. Now my account balance is showing a negative balance. When i checked with the customer care for the reason of negative balance in my account, they told me that i have to maintain a minimum account balance of Rs.5, 000 every quarter, if not maintained a charges of Rs.750 + service charges will be imposed (deducted from the account)every quarter. Actually the account is a commission account & now i have stopped doing the business, so my account balance would be around Rs.700. After deduction of the penalty charges by the bank people my account now is showing a negative balance. Such kind of banks will be difficult to survive in a present competitve world. When we look at SBI & other banks they are offering a minimum balance of Rs.500, which is good enough. Few banks are offering with zero balance account. When this is a case, why cant kotak bank reduce its minimum balance limit from immediate effect.

I request the concerned officials to take action against Kotak Mahindra Bank on account of cheating people by providing wrong information & misguidance.

Dear sir,
I am highly disappointed with your banking services. Please read carefully about my case because through this mail I am giving you a time period of one week i.e. for the date 27/10/2009 to take necessary action against your employee and also giving me a compansation otherwise then after I will go to consumer forum for the case matter. I have sufficient documentry proof to show the matter at forum.
The case matter:
===========
1) The date of 25/09/2009 your sales employee Mr. Ramesh Kumar (Employee Code: 22819 Branch: Lajpat Nagar) has came to my office for opening my saving account. He had offered me for "Zero Balance Account" and a credit card with that account. He had asked me for my ID proof, Address proof and also the initial cheque of amount Rs. 10000/- (Ten thousand only). I have submitted all the concern documents as well as the cheque (Cheque number: 005976, Bank: ICICI Bank) of same amount. He told me, I will receive the SMS on my mobile number [protected] within two to three working days as a confirmation about the account opening process.
2) On the dated 6/10/2009 the amount of Rs. 10000/- was debited from my account towards the account opening initial balance. From the date till now I have not received even a single messages form your bank regarding my account opening process and from the same day to till now, the mobile of Mr. Ramesh Kumar was found in switch off mode.
3) After enquired a lot from my side to your bank and also a lot of other employees of your bank I knew that my account was not opened so for. Mr. Jackob (Team Leader, Mobile number: [protected]) told me that I should again submit a form of dual signature. While the same I have submitted already, I was again submitted it to Mr Vipul (Mobile number: [protected]) "both are of your employees" on dated 13/10/2009.
4) After completion of all formalities from my side I did not know under what circustance Mr. Jackob has informed me that Kotak bank is neither giving me a "Zero balance account" nor the credit card and I should to maintain minimum balance of Rs. 10000/- balance in my account. And then after my account form is rejected (I don't know why?). He told me that they are arranging form bank side to return my cheque amount of Rs.10000/-
5) After making a lot of call from my side, on the dated 20/10/2009 your bank have refunded me my amount through the banker's cheque number 005471 from the Karol Bagh branch.
=====================>>>>>
Now the point is that; is it not the lack of services for consumer?
How can your bank may have my fund of Rs. 10000/- for a such long period of time (15 days)?
Why not bank resopnce me back regarding my account processing while bank shows hurry to take Rs. 10000/- from my account?
How is it become possible that, Mr. Ramesh Kumar give me the receipt of form number "[protected]" while after my approach bank have return me back the xerox of my form whose form number is "[protected]". How would it differ?
This is really a case of cheating and fraud then why not I have to lunch a FIR to police station regarding the cheating and fraud? and why not I have to go to consumer forum?

Please do needful as soon as possible. If required I can give you xerox copy of all dcouments i.e. receipt, form number, cheque and other documents.
Regards
Shashank Srivastava

Basically my above complain is for the Kotak Mahindra Bank and the above statement is to be sent to Kotak bank

my account balance

I am staying at pune . In Pune Kotak Mahindra bank had ATM in office premises in Sharda Centre, Nalstop.
I want do deposit the a local cheque of other bank in to my account but fromlast 48 hours the deposit slip and envelope is not available.
Can somebody look into this and make it available by today itself.
Thanks
Vinod Chunchuwar

we are frauded by kotak mahindra bank of amritsar. this account was my father jagtar singh and my mother rajwinder kaur. they both are having a joint account. they both cant read and write. there are so many illegal transactions in the account of monika kakkar . your bank employees are saying that this is a fake account.these transactions were not in our knowledge. these transactions are also not in our pass book. your bank also put our lakhs of ruppees in mutual funds which is also not in our knowledge. there are so many fund transfers also which were not in our knowledge. my family is in trouble and upset with this fraud. please solve our problem as soon as possible. otherwise we will go to media. if something happened to my parents you will be responsible.account no. of my parents is [protected] and crn no. is 13872640 .

Kotak Mahindra is fraud bank as the employees there lie alot just to sell their product. any business to sustan for long run the business has to be follow strict rules of the RBI.Has they fool the customers.
Has year 2010 arrives their business will crash down because of the curses.
Without informing they deduct your account money& don't even give any information.

I urge the RBI to be strict on the private banks on their business.
We all request you give justice all depositors.


Regards
Meenakshi
Mumbai.

CMD
Kotak Mahindra Bank

Sub: Complaint against avoidable user non-friendly procedure / practices followed by KMB.

(1) I had given on 13.03.10 filled in form in your Gujrawalan Town, Delhi branch for renewal of my FD of Rs. 2.52 lac approximately for 3 years @ 7% interest rate. This FD was renewed automatically for 1 year on 12.03.10 – date of maturity. Renewal for 3 years @ 7% instead of auto renewal at low interest rate of 6% for 1 year was required. Neither the renewed FD has been received nor printout for the same given to me till date despite follow up.
(2) I had given last year filled in form 15G in respect of FDs in the name of my sons Abhishek Dhingra and Ankit Dhingra for stopping TDS by you well in time before due date of 31.03.09. It is regretted that no action was taken by KMB forcing us to file papers with Income Tax Department to claim refunds later for the TDS recovered by KMB.
(3) Unlike other banks (Pvt. / Nationalized) where there is no requirement of withdrawing money from SB account, it is required in KMB after every 6 months to avoid account becoming dormant.
(4) Whereas other banks (Pvt. / nationalized) like ICICI, HSBC, Citibank, SBI, Standard Chartered etc. have issued / are willing to issue me credit card (Platinum, Gold, Visa etc.) with high cash limit exceeding even Re. 1 lac merely on production of my pay slip and visiting card etc., KMB sent me secret pin code without credit card when I declined to take credit card due to your requirement of pledging amount against credit card irrespective of the fact that the credit card was being issued against FD in KMB, Gujrawalan Town, Delhi branch.
(5) Other banks contacted me only for telephonic verification before issuing credit card unlike KMB who had sent 1 person for verification at my office. It is regretted that even after verification card has not been sent to my residence / alternate office address till date due to unfounded fears prevailing in KMB.
(6) Whereas no other banks (pvt. / nationalized) refused cash deposit in account, your KMB, Gujrawalan Town, Delhi branch (Ms. Meeta) refuses to accept cash deposit without prior notice / intimation.
(7) Your Gujrawalan Town, Delhi branch customer relation officer, Shri Gaurav Madan misguided me to deposit additional money in SB account to avoid penalties. On checking with other officials of Gujrawalan Town branch, it was informed that till the SB account is linked to FD account there is no such requirement.
(8) Whereas other banks also work under similar uncertainty, risk, fear etc. there are no such user-unfriendly procedure / practices being followed by them like your KMB - which is driving away potential clients / customers besides users to other banks thereby depriving KMB of lost opportunity / business / income.
(9) The unpopular user-unfriendly (rather enemy) practice / procedure and decisions taken by KMB under environment o[censored]nfounded fear / risk shall soon discourage your clients / customers unless drastic steps are taken immediately to correct the deteorating situation.

In view of the above you may like to review the avoidable irritating, cumbersome degenerative, harassing procedure / practices.

In case there is no progress KMB may as well explore the possibility of closing shop, of withdrawing from banking service in the larger interest of all concerned i.e. you, customers, clients etc.


A.K. Dhingra
B-77, Derawal Nagar,
Delhi – 9.
CRN no: 12831780
Account no: [protected]
Tel No: (o):[protected],[protected]Telefax)
(R):[protected], 27210433
email: dhingra.[protected]@hotmail.com, [protected]@gmail.com, [protected]@yahoo.co.in

CMD
Kotak Mahindra Bank

Sub: Incorrect, inapt and inefficient handling by KMB leading to delays and suffering of clients.

Further to my earlier email-dated 07.04.10 on the subject of (i) non-receipt of FDR after renewal, (ii) receipt of pin number without associated credit card against FD, I give additional information for your investigation.

(1) Whereas my FDR of Rs. 252, 787.29 for 3 years @ 7.25% interest has neither been received nor print out given to me after follow up till date after lapse of approximately 1 month from 13.03.10 to 09.04.10, I have received yesterday i.e. 08.04.10 statement of A/c no. [protected] showing relevant portions on page 3 of 4

Date Narration Withdrawal (Rs.) Deposit (Rs.) Balance (Rs.)
01Jan10 Opening balance 1218.07 1218.07
17 Mar10 Premat proceed of TD [protected] 252787.29 254005.36
18Mar10 0185/12831780/AKDh. 252000 2005.36
01Aprl10 Crdt. Intt. Capitalized 10.51 2015.87

& Page 4 of 4 Summary statement of standalone term deposit (s) as on 01.04.10,

TD No. Original Principal Booking date Intt Rate % p.a. Openg.Balance(Rs.) ClosingBalance(Rs.) Matrur.Instrn. Matur.Date.
[protected] 217736.12 10.03.08 0.00 248329.35 0.00 Renew prin. & int. 13.03.11
[protected] 252000 18.03.10 7.25 0.00 252000 Renew prin. & int 19.03.12
Total 248329.35 252000

detailed statement of term deposit

Date Narration Value dt. Debits Credits Balance
01.01.10 Opng. Bal 01.01.10 248329.35
11.03.10 Net int. reinvstd 11.03.10 4408.55 252737.90
12.03.10 Net int. reinvstd 12.03.10 49.39 252787.29
12.03.10 Auto renewal (P) 6.5% p.a. 12.03.10 252787.29
17.03.10 Premat proced of TD[protected] 17.03.10 252787.29 0.00


TD No. [protected] TD Branch, ND- Model Town currency INR

01.01.10 Opening Bal. 01.01.10 0.00
27.03.10 TD BKD/AK 18.03.10 252000 252000
01.04.10 Closing Bal. 01.04.10 252000

Whereas the filled in form for reinvestment after crediting investment of Rs. 2.52787.29 matured on 12.03.10 to SB A/c on 13.03.10 for reinvestment in FD of Rs. 2.52 lac was filed on 13.03.10 in KMB, Gujrawalan Town Branch, New Delhi, due to requirement of renewal for 3 years @ 7.25 % instead of auto – renewed FD on 12.03.10 for 1 year @ 6.5 %, clearly there is gap / delay of 4 to 5 days in implementation due to lack of initiative, understanding, efficiency and apt handling on the part of KMB.

This error may be corrected at the earliest by issuing me FD of Rs. 2.52 lac with effect from 13.03.10 instead of 18.03.10 for 3 years @ 7.25% vide tele-conversation dated 09.04.10 with your staff 1110 hrs on[protected]. Alternatively I may be paid interest for lapse of 4-5 days from 13.03.10 to 18.03.10 for Rs. 2.52 lac @ 7.25% - rate of FD for 3 years as informed to Ms. Nutan on 09.04.10 at about 11 a.m on[protected].

(2) Whereas I declined initially credit card against pledge / FD in 2009, to my surprise, pin number was received by me by dak in February 2010 without I ever receiving credit card. When the issue was taken up on 13.03.10 by me to check possible misuse of credit card not received by me till date, your service adviser requested me to take credit card, which was received back by KMB undelivered. On the request of your service adviser, Ms. Parul telephonically I gave my consent for issuance of credit card at that time. I gave my alternate mail address of my office also.

However when credit card was not received even after verification by your staff at my office I approached Ms. Rachita on[protected] on 09.04.10 at about 1115 hrs It was informed by her that the credit card has been cancelled on my request to Ms. Parul. Whereas I didn’t make any request for cancellation on 13.03.10. Rather your staff requested me to take credit card lying undelivered with KMB.

The facts have not been recorded / acted upon properly is clear as your man could not have come to my office for physical verification, had I requested cancellation of credit card on 13.03.10. I have never been informed by KMB subsequently regarding cancellation etc. Rachita further told me that pin number received by me in February is by default and credit card is cancelled now. The whole inapt, incorrect processing and handling by KMB is not understood.

The above matter about incorrect interpretation / reporting / action besides in efficient handling on the part of your staff, who are making contradicting statements right from the beginning – (I) by issuing credit card when I declined to take it, (II) issue me pin number without credit card, which was received back by KMB undelivered. (III) Incorrect recording by Ms. Parul to cancel credit card by me now instead of her request to me to accept credit card already issued and lying undelivered (IV) sending man for physical verification at my office, which was not required, if card had been cancelled (V) not informing me that credit card has been cancelled and (VI) issuance of pin number was by mistake as per Ms. Rachita, is a mess to cover up your short comings.

In view of the above, (a) you may investigate into the matter to pin point, lapses and to fix responsibility so as to punish the guilty personal of KMB, (b) to change the date of FD of Rs. 2.52 lac for 3 years @ 7.25 % w.e.f. 13.03.10 instead of 18.03.10 or alternatively (c) pay me interest of of 5 days from 13.03.10 to 18.03.10 of Rs. 2.52 lac @ 7.25% and (d) compensate me financially adequately for the mental agony / harassment, inconvenience etc.

I am thinking of taking up matter further with banking ombudsman / RBI banking services / operations deptt. also.

A. K. Dhingra
B-77, Derawal Nagar,
Delhi – 9.
CRN no: 12831780
Account no: [protected]
Tel No: (o):[protected],[protected]Telefax)
(R):[protected], 27210433
email: dhingra.[protected]@hotmail.com, [protected]@gmail.com, [protected]@yahoo.co.in

CMD
Kotak Mahindra Bank

Date: 19.04.10

Sub: Inordinate delay / inaction by KMB.

Ref. My earlier complaints dt. 07.04.10 & 11.04.10 I haven’t received till date FDR for Rs. 2.5 lac for 3 years w.e.f. 13.03.10 - one day after premature closure / withdrawal of old auto-renewed FD of Rs. 2.52, 787.29 for 1 year @ 6.5% interest rate. Neither the print has been given to me nor I have heard anything from KMB so far.

Either fresh FD of Rs. 2.5 lac for 3 years @ 7.25 % interest rate w.e.f. 13.03.10 may be issued or interest @ 7.25% for the affected difference of 4-5 days i.e. from 13.03.10 to 18.03.10 – the date of re-investing this amount of Rs. 2.5 lac as per statement sent to me may be paid to me at the earliest besides compensating me adequately for the mental agony, delays, inaction, harassment etc.


A. K. Dhingra
B-77, Derawal Nagar,
Delhi – 9.
CRN no: 12831780
Account no: [protected]
Tel No: (o):[protected],[protected]Telefax)
(R):[protected], 27210433
Email ID: dhingra.[protected]@hotmail.com, [protected]@gmail.com, [protected]@yahoo.co.in

Kotak bank is charging illegal charges on their customers on their savings bank account which was created on assurance of life time zero balance .

When people are objecting against these illegal charges, they are not responding .

Goi and rbi should seek clerification from akotak bank as it is illegal and unconstitutional.
Customers should also claim compensation against this bank for this illegal harassment .

Customers should refuse to pay such illegal charges .
If kotak bank not stop to impose such illegal charges customers should approach to higher court and seek to proper justice .

It is totally illegal and unconstitutional to impose chages on "life time zero balance account".

How can kotak bank officers guess that they are beyond law, beyond constitution ?

Kotak Mahindra Bank — Requirement of statement of my account

As per my requirement i need the statement of my account no:[protected]. I require this to present my IT return filing team. From the date of commencement of my account i have not received proper statement, so help me out for getting this ASAP. And henceforth please email the statement on my email address. Only thing i receive properly is balance of my account , balance is not required for IT filing ,statement is required.

Note:Please email the statement from the date commencement of my account.

Regards,
Anand Gupta,
[protected]

As per my complaint made on 08 / 07 / 2010, there is no reply still. Are these people testing patience of a person or trying to ignore it.

A / c:[protected].

This is not acceptable.

No thanks & no regards for you all stupid.

Your suffering customer anand gupta; [protected]

Yes I do agree that their executive reaches you at your home and give all sorts of attractive offer such as 'zero balance' for 3 in 1 account and later bank starts charging as high as Rs 827 on account of non-maintenance charges quarterly and wipe out your entire balance and start showing negatives. Why they do not reach you at your home and inform the individuals and render service for closure of account, if anyone desires, similar to the way they reaches you at your residence for opening of account. This is sheerly snatching away poor peoples' money

Sir,

Good morning

Meine apna saving account Kotak Mahindra bank mein 22.09.10 ko open ke liye parveen kumar (Deputy manager -RL) ko 10000 rupey diye thye aur aaj 28 .09.10 hoon gaya hai aaj tak na to account open huva hai aur phone karte hai to koi phone nahi uthta hai.

please sir, yadi aapke kotak bank mein mera account nahi khul paa raha hai to mere paise return karna chaiye please help me.

My name is :- sombir singh
mob ;- [protected]

This is Sugeeta who employed in Wipro 2year back and i got kotak mahindra savings acount from the company side. Ofter 6 months i resigned my job over their. Since than i was using my Account for online transactions. And never charges were imposed on my account but suddenly RS. 871 were deducted from my account. I called customer care services they told that you need to maintain rs 10000 minimum balance for this account. Ok i will agree that. But no information will i got regarding this matter. So please reimburse my amount otherwise i will go to consumer court.