I bought ICICI Bond with a maturity in 2002. When I contacted the bank in 2008, the bank said the redemption cheque of ₹1 lakh may have been lost in transit. I submitted the original bond certificate in 2008. As on today, I have neither got the principal nor the interest for delayed pyament. I am a retired person. How can I get my money back?
- Sanjay Bhattacharyya
You have to follow a certain procedure while lodging a complaint against the bank. You have to first take it to the customer services cell, then to the grievance officer, and then to the nodal officer and so on. Banks have a system that allows you to to take the matter to the next level if your problem is not solved. Once you exhaust all your options available with the bank, you can go to the banking ombudsman for redressal.
Here is a link to the complaint page of ICICI Bank. Please follow the steps carefully: http://www.icicibank.com/complaints/complaints.page.
Banking ombudsman: https://rbi.org.in/commonman/English/Scripts/AgainstBankABO.aspx
This article was originally published on December 11, 2015.
Ask Value Research 
New episodes every Friday 
New Process Alert 
Seems like you've uploaded a wrong QR code. Please upload the QR code downloaded from MF Central platform.
