Don't close it. Keep it dormant, they will eventually close it themselves due to no activity in the account

Consultant

If they made the balance negative then you can get it rectified as RBI doesn't allow banks to charge penalties once balance is 0.

Also you can always complain to banking ombudsman if they charged you without prior warning.

Software Engineer

This is the basic rule of salary accounts. 
No salary till 3 months means savings account with minimum balance of 10k (or more)
Read the TnC

Just delete the app, remove the account from upi and make sure absolutely no transaction happens through that account. After 2 years of dormancy they will close the account and they can't do Jack about the negative balance. CIBIL score would be untouched too. Have done it with my hdfc account. Bastards put my balance to -4000. Finally closed it on their own

Product Marketing Manager

Had a bank account of Kotak where it was inoperative from 1.5 years and NMC Charges went to 7900 INR. When I went to close the account they started insisting me to pay the charges.  How do we deal ...

Welcome to News Discussion's Private Community

Had a bank account of Kotak where it was inoperative from 1.5 years and NMC Charges went to 7900 INR. When I went to close the account they started insisting me to pay the charges.

How do we deal this folks, coz at the time of taking account they said it is zero balance and then after salary stopped crediting they converted  into a savings account with mostly generic alerts !!!! 

Looteri banks. 😏😒

Banks looting !!!

Banks looting !!!- Grapevine

Welcome to Personal Finance's Private Community

I have a IndusInd bank salary account(Gurgaon), where last salary was in 2019 jan. Haven’t been using it since then… Tried to check balance today.
It showed a negative balance of -6500. WTF!!
Worst part, bank employees at Bangalore says I have to close account in Gurgaon.
Would want to understand if similar issues had been faced by others as well.

What horrific charges you had on your bank account?

Head Of Growth

Seen enough posts about credit cards, thought it was time to ask about banks! 

I have a decently sizeable income and am anticipating more coming in USD in the coming months potentially. Earlier my family and I used to have priority accounts at Citibank (including one current account). Citi had good relationship managers and our issues were resolved on priority but ever since the merger, I feel Axis hasn't been that good. 

Which bank accounts do y'all have accounts in? Would want a bank where can establish good priority relationships etc with!

Best bank to have an account at?

Lawyer

Welcome to Indian Startups's Private Community

Fi has a limited set of products but I wonder how are they surviving? Are things good? I think they don't spend on marketing so much as other startups. But still I have never seen anyone using a Fi product as well😅

How is Fi surviving?

Welcome to Software Engineers's Private Community

Let it all out. Use this thread as an outlet.

What’s bothering you?

How many bank accounts you have and why?

Any bank accounts just for FD with high interest rates? 

What’s your take on this? 

Noob here. Thanks in advance.

Bank Accounts

India's central bank orders Kotak Mahindra Bank to stop signing up new customers through its online and mobile banking channels and cease issuing fresh credit cards after finding "serious deficiencies and non-compliances" in its IT practice

Software Developer

Almost 50% of the org got no increments
People with "exceeds" rating got single digit increments
Only promotion cases have got early to mid double digit increments
Promotions have been significantly fewer this time, max people have been told to hold off their expectations of promotions for another year

The reasons cited were economic slowdown, other companies like Microsoft, Flipkart, swiggy, Amazon doing the same and cost cutting. I think things are getting toxic and the majority of employees have been left disappointed.

Razorpay increments - sad state

Founder

My mother called me yesterday and tells me she got scammed for about 10 lakhs and needs money by Monday. She has 4 lakhs and I will have to cover the rest. Turns out she let a friend take a loan in her name and this friend gave fake jewellery as collateral. The friend took loans under her husband’s name and my mom’s name, she divorced the dude and escaped. The bank called my mom and has asked her to pay, now they’re filing a case against my mom for fraud.

I’ve spent my weekend talking to advocates and friends, and looks like the only way to get out of it unscathed is to cut a deal with the bank saying we’ll pay the money back and they don’t press charges in return. Contesting the bank is going to take time, money and the risk of my mom losing her job.

As an older daughter who grew up in a broken family, I’ve spent my childhood and adulthood protecting my mother and sibling. I finally landed a well paying job 2 years ago and now the responsibility extended to providing for my younger sister and my mother financially which I’m more than happy to do. I’ve worked hard the past few months to save what I have right now beyond what I give my family, use to sustain myself and finally felt happy about the position I’m in.

Now I’m heartbroken. I’m going to be emptying almost 70% of what I have so far for this for paying the bank and the lawyer. Especially for something that’s not even my mistake and something that could have been easily avoided. I’m not in a place to direct my anger at her, I know it’s a hard time for her as well. 


6 to 7 lakhs might sound like a small amount to some but I don’t have the privilege to throw money like that. I don’t have fuck you money. I don’t take money from friends. I’m 25 and literally just started my life 2 years ago after working for peanuts. 

What’s even the point of working hard, leading an honest life if this is how it works? It’s just truly unfair and I don’t know how to deal with it.

I wish life was a little easier and I just need to vent

Me too venting in this space.. 
 //Start if rant 
  
 My father too was frauded by a builder whom we had entrusted building flats on our plot of land. Fcker took booking amount from multiple people and left construction, claimants now coming after us saying its our responsibility to refund even though my father didnot recive any amount. 
 I had to take 18 lakhs loan for my father to complete construction and am all the time calling advocates in assesing risk from claimants who come barging at our home and building site with threats of filling FIR. 
 Every month my one third salary goes in Loan amount, had got a ideal wlb good paying job 2 years back after battling unemployment and low pay for many years. 
 Had planned to take wife and kids on vactaions for making up for lost time but now struggling to fulfill basic needs for family, forgot about vacations. 
 Have taken risk and moonlighting but it becomes hell on days when there is clash between jobs and sometimes lash out on my kids and wife and parents and then get hit by double guilt of not being strong enough.  
 Dont have any backing to face cheat builder who has backing of police and politicians, claimants coming after us as they have recognized us as soft target. 
 Preparing for 10 lakhs more expenses in multi year litigation trying to probe my fathers innocence. 
 Fcking jealous relatives enjoying all this from distance. 
 Fck this world. 
  
 //End of rant

Growth Manager

Welcome to Banking & Finance's Private Community

For our cashwithdrawal of around 10L, ICICI Banks debited Rs.5K above.

But as per government rules and act of Section 194N:

" According to section 194N of the Act, TDS has to be deducted if a sum or aggregate of sum withdrawn in cash by a person in a particular FY exceeds : 

₹ 20 lakh (if no ITR has been filed for all the three previous AYs), or

₹ 1 crore (if ITRs have been filed for all or any one of three previous AYs). " 


We filled our IT for all financial years, how ICICI deducts service tax for our money cashwithdrawal?

Section 194N not applicable for ICICI Bank??

Principal Software Engineer

Guys received a call today,looked very genuine he told me that u need to cancel your insurance of credit card,to do so he guided some steps where I did not share a single info with him,maybe he was able to screen record and tool details and then suddenly I got message that 1lac spent on your credit card. Later after 2mins observed 97k transaction was unsuccessful due to security reasons (thank god). I have filed complaint to icici and I have blocked my card, registered in cyber crime also.
Now I want to know, as it was credit card, will icici solve this matter or they will ask me to pay.
Please Guys currently stressed alot,didn't share this with anyone neither parents because then they will be tensed. 
Help me plz

Banks looting !!!

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