ICICI Bank — Violation of their Own rules

Address:

Bangalore, Karnataka

Like all the banks have procedure of confirming from the concerned account holder to transfer Funds internally of the same Bank Cheque, ICICI Bank follows the same procedure too. Problem: I had issued a cheque of Rs. 12lacs to my client, and the cheque bearer had an account in ICICI. So, the cheque bearer has given it for immediate transfer of funds. But the ICICI bank employee has transferred the of Rs.12lacs without confirming from me(account holder) . I was on my to bank to stop this cheque because the deal with me and cheque bearer did not go well. I usually get call from ICICI Bank for confirmation of funds transfer internally. But i did not receive any call confirmation for transfer of Rs.12lacs from the bank people. Its a huge amount and bank people should be very careful and it was their responsibility to confirm from the account holder before debiting from the account. If i had got a call regarding this for the confirmation probably that time i would have asked them to hold the cheque as i wanted to stop the cheque. later when i visited ICICI BAnk, Vidyaranayapur Branch, Bangalore, they were careless in answering as to why did they transfer without confirmation call. And they even stated that they transferred the funds because they were short of staff and did not have time to call and confirm. Is this the excuse a banker can give to Privilege customer?? I am very much disappointed with the services of ICICI bank. The staff would change rules according to their own convenience and they would even forget about their own bank's rules. Its highly ridiculous! I will not accept this transaction, and i would want those funds to be credited back to my account. I hold Current account in Sahakrnagar Branch, Bangalore. And this transaction was done at Vidyaranyapur Branch, Bangalore. Entry done by: Mr. Ashok (Value Banker) and transaction verified by Mr. Prakash( Deputy BM) Regards, Sri Durga Properties