Money deducted from Axis bank account and invested in Axis Mf without my consent

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Deal Lieutenant
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While checking passbook, I came to know that An amount has been deducted from my mother’s Axis bank account and invested in Axis Mutual fund. After few days Rs. 118 charged extra as mandate charges too. One month back, my mother has complained at the branch in written. Branch manager and staff assured that the amount would be reversed back after investigation. After emailing to Various Axis Mutual Fund addresses and constant follow up, now she got a call that they have the document with my mother’s signature. How is it possible? She has never signed any document. I have asked for the application photocopy over mail and call but they are not replying. Can We file police complaint against the bank for forging her signature? Suggestions are welcome

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When was the account open
Most exec gets these signs on Insurance, funds, etc during ac opening without our knowledge

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insta wrote:

When was the account open
Most exec gets these signs on Insurance, funds, etc during ac opening without our knowledge

It was opened long time back. 5-6 months back, I called them at my home to get internet banking services. She may have filled signature for giving consent to start internet banking. But it was not related to Mutual Fund.

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insta wrote:

When was the account open
Most exec gets these signs on Insurance, funds, etc during ac opening without our knowledge

+ saying this is mandatory…

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RockChap wrote:

It was opened long time back. 5-6 months back, I called them at my home to get internet banking services. She may have filled signature for giving consent to start internet banking. But it was not related to Mutual Fund.

5-6 months isn’t long time for these acts. Possibly could hv taken during int banking signup.

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RockChap wrote:

It was opened long time back. 5-6 months back, I called them at my home to get internet banking services. She may have filled signature for giving consent to start internet banking. But it was not related to Mutual Fund.

Ask them for proof of starting MF investment, if they give scanned form h can investigate further. If they fail to give, raise complaint on SEBI SCORES.

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dhinchakrohit wrote:

Ask them for proof of starting MF investment, if they give scanned form h can investigate further. If they fail to give, raise complaint on SEBI SCORES.

Today evening Axis MF sent me the copies. All the signatures are fake. Agent Tried to replicate my mom’s signature.. but the difference is quite evident. Since he has done 6-7 signatures, one looks different from the other. Looks like there are many more savings accounts from where they have done this similar fraud.. And they target signatures in Simple writing. Branch Manager gave the agent deadline of Wednesday to redeem the MF.. I have also asked to refund the mandate charges. Let’s see what happens

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File a police complaint against the bank and the branch manager by name. the customer had requested services from the Bank. The agent was appointed by the bank. So the bank is responsible for any fraud committed by its agent.

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RockChap wrote:

Today evening Axis MF sent me the copies. All the signatures are fake. Agent Tried to replicate my mom’s signature.. but the difference is quite evident. Since he has done 6-7 signatures, one looks different from the other. Looks like there are many more savings accounts from where they have done this similar fraud.. And they target signatures in Simple writing. Branch Manager gave the agent deadline of Wednesday to redeem the MF.. I have also asked to refund the mandate charges. Let’s see what happens

Bro this is serious. Raise complaint at SEBI SCORES.

What is the ARN mentioned in MF?

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I just checked and 2kx14 has been deducted so far from my father’s account towards ICICI Prudential MF. I just assumed it had been done with his consent. Both the regd. email and no. were in my possession so he had no clue.

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panchabhut wrote:

File a police complaint against the bank and the branch manager by name. the customer had requested services from the Bank. The agent was appointed by the bank. So the bank is responsible for any fraud committed by its agent.

Do this or at least give a complaint in writing to branch manager and take ack and send the same to all emails and media.
This seems to be a scam of large scale

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Yes do file a complain..market was in uptrend so no loss for u but this way many could go in loss…

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Aur log faltu hi Sarkari banko ko badnaam karte h.

Trans: and people just defame public sector banks.

Whenever I visit for Axis bank for any home loan document LOD, forclosure, even outstanding statement, they say , We have entered your request in system . I will be delivered in 7-15 days. For 15 minutes work, they take 10 days.

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Lolwa. This is next level stuff. At the peak of mutual fund sahi hai campaign, SBI staffs would act like leeches n would target senior citizens. Who does sell ELSS funds to senior citizens? SBI does 😁😁😁
Your case perplexes me. Without consent they can’t possibly complete the kyc process/ fatca declarations. 🙂 I think aunty’s PAN card is already KYC approved, right!!!

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PSU bankers are well educated and safe job and dont do such things

Pvt bankers are farzi graduates and salesman type and to save jobs do frauds. Moral of the story – avoid keeping too much money in pvt banks

Also, keep checking statement every week

BTW you should complain at RBI ombudsman. This is theft

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Me Too In Sbi During Account Opening They Particularly Asked For Insurance PMJBY scheme yearly 120rs. I clearly Said No. Thats All.

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Dealhunting wrote:

PSU bankers are well educated and safe job and dont do such things

Pvt bankers are farzi graduates and salesman type and to save jobs do frauds. Moral of the story – avoid keeping too much money in pvt banks

Also, keep checking statement every week

BTW you should complain at RBI ombudsman. This is theft

No difference. Psu bankers don’t run after chump change, instead they pass loans worth crores to those with political connections which have high chances of becoming npa.
@shivrajsingh

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guest_999 wrote:

No difference. Psu bankers don’t run after chump change, instead they pass loans worth crores to those with political connections which have high chances of becoming npa.
@shivrajsingh

Golden rules followed by them:
1)Do not keep large money in bank accounts
2)Always take loans.

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bikidas2060 wrote:

Lolwa. This is next level stuff. At the peak of mutual fund sahi hai campaign, SBI staffs would act like leeches n would target senior citizens. Who does sell ELSS funds to senior citizens? SBI does 😁😁😁
Your case perplexes me. Without consent they can’t possibly complete the kyc process/ fatca declarations. 🙂 I think aunty’s PAN card is already KYC approved, right!!!

Yes KYC approved

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caks2006407 wrote:

Do this or at least give a complaint in writing to branch manager and take ack and send the same to all emails and media.
This seems to be a scam of large scale

I have already given a complaint in writing one month back. Bank manager has taken time till Wednesday to redeem the money to my account.

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dhinchakrohit wrote:

Bro this is serious. Raise complaint at SEBI SCORES.

What is the ARN mentioned in MF?

Bank manager was scolding the agent in front of me. He was too frightened. I can understand he did this to earn some commission. I have mailed the complaint to Axis Circle office so that such activities don’t take in the branch . Due to rising market, the value has risen to some extent. My mom says leave the poor guy, he might lose his job.

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LIMBO wrote:

I just checked and 2kx14 has been deducted so far from my father’s account towards ICICIC Prudential MF. I just assumed it had been done with his consent. Both the regd. email and no. were in my possession so he had no clue.

So this is happening in other banks too.

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RockChap wrote:

So this is happening in other banks too.

No it’s also Axis bank account.

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RockChap wrote:

Bank manager was scolding the agent in front of me. He was too frightened. I can understand he did this to earn some commission. I have mailed the complaint to Axis Circle office so that such activities don’t take in the branch . Due to rising market, the value has risen to some extent. My mom says leave the poor guy, he might lose his job.

Up to you friend, yes humanity should exist but not at the cost of some huge loss (from future perspective).

Keep on record with bank atleast that such a thing happened, it will help u in future if some fraud happens again.

Learning for you: Always administer parents in filling out forms, using smartphone banking features, awareness about OTP’s, etc. (if they allow).

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guest_999 wrote:

No difference. Psu bankers don’t run after chump change, instead they pass loans worth crores to those with political connections which have high chances of becoming npa.
@shivrajsingh

Thats because political pressure. They have rule 56j to Compulsorily retire corrupt and inefficient. But in actual govt use this rule so no officer in high post can speak againat them .thats why this govt has implemented it more strictly.
So Public servant in higher post have his hands tied. They dont really have any choice than to pass these loans.

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RockChap wrote:

Bank manager was scolding the agent in front of me. He was too frightened. I can understand he did this to earn some commission. I have mailed the complaint to Axis Circle office so that such activities don’t take in the branch . Due to rising market, the value has risen to some extent. My mom says leave the poor guy, he might lose his job.

Well, he must lose his job for playing with others money. This is your hard money. What if market had gone down.

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shivrajsingh wrote:

Thats because political pressure. They have rule 56j to Compulsorily retire corrupt and inefficient. But in actual govt use this rule so no officer in high post can speak againat them .thats why this govt has implemented it more strictly.
So Public servant in higher post have his hands tied. They dont really have any choice than to pass these loans.

They do have a choice, become a whistleblower or file a PIL in High Court/Supreme Court. There are many cases of corrupt/inefficient officials in govt jobs. Also rule 56j applies only to central govt employees & not psu because psu employees are not central govt employees.

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