Bank converts NRI’s FD erroneously into insurance

The ICICI Bank allegedly converted a fixed feposit (FD) of an NRI client into the ICICI Prudential Life Insurance without his consent.

Manpreet Singh in a complaint lodged with the branch manager of ICICI bank in BRS Nagar alleged that the bank was not giving a proper reply about the fiasco they committed.

Even repeated requests to bank authorities failed to yield any outcome, he said.Manpreet said now they would move the complaint in the office of Inspector General of Police, NRI Cell, Punjab Police.

Manpreet, in his complaint submitted to the bank, said he had a fixed deposit of Rs 1.15 lakhs jointly with wife Inderjit Kaur Lamba on September 9, 2014, which was to mature in May 2017.