What is it that we tell our people! Docket your grievances. Follow the constitutional ways of undoing the wrongs. File a lawsuit. India Shining. Oh Modi, here is your gist of India. Sad, that we live in a society where big brands make money leeching the weak & the disabled.
Yes Bank Vashi Branch Relationship Manager (RM) Mr. Anil Bari (Ph # 8108876107) conned my mother into investing 17 Lac 35 Thousand. After a year, interest is a joke, that sum is now 16 Lacs.
She lived alone, this man came home knowing that, earned her trust & raped her trust. And all Yes Bank has to say is, oops.. a 58 yr old loving mother, all believing in god should have read the documents before she signed. So what if your YES Bank reps. don't bother telling them all the factuals, simple things like dear aunty (that's what he called her), if you sign this pg, you will lose 1 lac 73 Thousand PLUS SERVICE TAX like right now, this instant because this mad policy has a 10% processing fee.
lol.. 10% is not even an FD return now days. Funny is their customer care too. Calls and asks, Oh we saw your ticket, dont worry, someone will call you. Someone does call. Oh, sorry this happened, dont worry, someone will call you. :D ... Call girls and boys.. thank you so much for your calls. Lesson learnt, amazing one that too. India is awesome. Amazing country. I love you so very much. Life here has made me a survivor like I could never imagine before. Bosses can escape liability of governing bad business delaying salaries, sometime not even paying them for months, Banks can get away with conning mothers, all they have is oops. Expecting a sorry is a bonus. Coz. you see, they all have their reasons. Genuine ones. So genuine in fact that it overrides the havoc caused to those at the receiving ends of their ...umm... let's just call it.... an unintentional actus reus. Every one is a righteous soul. Its just my bad luck. I am the sinner you see. I am supposed to witness the carnage of human apathy.
So, what is it that I do in these silly situations that I am faced with. I write letters. I love writing letters. So below is all the wasted words on Yes Bank - Their customer care, Ombusdman & the Regional Vice President. The latter I guess found the length too daunting to even attempt a read. :D If someone is really bored & enjoys cribbing, or has a vendetta against their own mind, do read the below pile of dung. But friends, beware of YES Bank.
Happy Loathsome Writing,
Yes Bank Vashi Branch Relationship Manager (RM) Mr. Anil Bari (Ph # 8108876107) conned my mother into investing 17 Lac 35 Thousand. After a year, interest is a joke, that sum is now 16 Lacs.
She lived alone, this man came home knowing that, earned her trust & raped her trust. And all Yes Bank has to say is, oops.. a 58 yr old loving mother, all believing in god should have read the documents before she signed. So what if your YES Bank reps. don't bother telling them all the factuals, simple things like dear aunty (that's what he called her), if you sign this pg, you will lose 1 lac 73 Thousand PLUS SERVICE TAX like right now, this instant because this mad policy has a 10% processing fee.
lol.. 10% is not even an FD return now days. Funny is their customer care too. Calls and asks, Oh we saw your ticket, dont worry, someone will call you. Someone does call. Oh, sorry this happened, dont worry, someone will call you. :D ... Call girls and boys.. thank you so much for your calls. Lesson learnt, amazing one that too. India is awesome. Amazing country. I love you so very much. Life here has made me a survivor like I could never imagine before. Bosses can escape liability of governing bad business delaying salaries, sometime not even paying them for months, Banks can get away with conning mothers, all they have is oops. Expecting a sorry is a bonus. Coz. you see, they all have their reasons. Genuine ones. So genuine in fact that it overrides the havoc caused to those at the receiving ends of their ...umm... let's just call it.... an unintentional actus reus. Every one is a righteous soul. Its just my bad luck. I am the sinner you see. I am supposed to witness the carnage of human apathy.
So, what is it that I do in these silly situations that I am faced with. I write letters. I love writing letters. So below is all the wasted words on Yes Bank - Their customer care, Ombusdman & the Regional Vice President. The latter I guess found the length too daunting to even attempt a read. :D If someone is really bored & enjoys cribbing, or has a vendetta against their own mind, do read the below pile of dung. But friends, beware of YES Bank.
Happy Loathsome Writing,
---------- Forwarded message ----------
From: -------------------------------------------------------------------
Date: Sun, May 18, 2014 at 12:31 AM
Subject: Awaiting resolution - YesTouch Complaint # 415176 - Senior Citizens duped for 17 Lacs 35 Thousand
To: prashanthkumar.shetty@yesbank.in, YesTouch, ombudsman@yesbank.in
Cc: advkrishnathacker@hotmail.com, pradip.pandey@bajajallianz.co.in, abhishek.jaiswal014@balic.in, abhishek.chauhan013@balic.in,
From: -------------------------------------------------------------------
Date: Sun, May 18, 2014 at 12:31 AM
Subject: Awaiting resolution - YesTouch Complaint # 415176 - Senior Citizens duped for 17 Lacs 35 Thousand
To: prashanthkumar.shetty@yesbank.in, YesTouch
Cc: advkrishnathacker@hotmail.com, pradip.pandey@bajajallianz.co.in, abhishek.jaiswal014@balic.in, abhishek.chauhan013@balic.in,
Dear Mr. Shetty,
This is with respect to the meeting held on the 9th of May, 2014 at Vashi branch. During which the complete case was presented to you along with Bajaj Allianz representatives. ?Yes Bank RM Mr. Anil Bari was absent during the procedure.
We are awaiting response from your team about Yes bank RM's withholding crucial information about the 10% processing charges on 17 lacs scheme from senior citizens.
This misguidance has amounted to a loss of over 2 lacs. We await your final take on this matter.
Also, we seek an end to the blame game between Yes Bank & Bajaj. We have been contacted by Bajaj representatives & their follow ups seem atleast directed towards resolving the issue.
However, prolonged silence from yes bank authorities is not helping at all.
Best Regards,
-------------------
---------- Forwarded message ----------
From: ---------------------------------------------------------------
Date: Tue, May 6, 2014 at 1:28 PM
Subject: YesTouch Complaint # 415176 - Senior Citizens duped for 17 Lacs 35 Thousand
To: ombudsman@yesbank.in, ----------------------------(Advocate email id)
From: ---------------------------------------------------------------
Date: Tue, May 6, 2014 at 1:28 PM
Subject: YesTouch Complaint # 415176 - Senior Citizens duped for 17 Lacs 35 Thousand
To: ombudsman@yesbank.in, ----------------------------(Advocate email id)
To Yes Bank,
To begin with, Yes Bank, a fairly new brand with its fraudulent service & dismal attitude proved well beyond doubt that banking as a sector is still trustworthy only with the veterans. I am 27 and you lost a generation of business with me and my peers for the stress that has been caused to my parents. I know it matters zilch to you after the depressing episodes of past 2 months.
However, I have been given this email ID after a lot of back & forth with "yes touch" & the bank officials, so duly notifying the case in detail as it stands. Do note that I am under legal advisement and my legal representative is marked on this mail. Also, the yes touch interactions are appended in the mail.
Timeline - 2012.
My mother, ---------------------- opened a new account deposited 20 lacs in Yes bank savings account (Vashi, Navi Mumbai branch). She is 58, a bengali medium graduate.
Mr. Anil Bari (Ph # 8108876107) was the Relationship Manager (RM). He then chased her for investments. My father is retired and of 67 years of age. My mother agreed to do a Fixed Deposit.
Timeline - 14th Feb, 2013
Mr. Anil Bari set up a meeting Mr. Abhishek Jaisewal for investment advise.
These 2 men, convinced my parents to invest their entire savings (INR 17 lac 35 Thousand) in a Bajaj Alliance Insurance scheme (Apparently master policy holder is Yesbank).
My senior citizen parents were alone at home and these two men came home and got the papers signed claiming that the scheme was a high returns FD which can be dissolved any time with only 3% penalty. All of this was verbal communication. We were given the policy documents after few weeks which also stated that after 1 year, dissolving the policy would cost us 3% and after 3 years, this penalty would not be applicable. Hence, we (My elder brother 32 years & myself) were ok with the scheme. As the documents were signed, we could do little at this point.
Timeline - Feb, 2014
Urgent fund requirement made it necessary that we withdraw this amount. So we called up Mr. Anil Bari. His phone was switched off. After repeated efforts and calling the branch, we got told that Mr. Anil Bari no longer sits in vashi branch and is not our RM. We also kept trying to reach Mr. Abhishek Jaisewal and were shocked to learn that he is not even a Yes Bank official but a Bajaj Alliance Sales Team Representative. We also got told that Mr. Anil Bari too is a Sales Team representative and not an investment banker.
We called the customer care of the Policy (Bajaj alliance Life insurance scheme) and got told that the invested fund value of 17 Lac 35 thousand Rs. in now reduced to 16 Lacs after 1 year.
We were charged a 10% processing fee on our principal amount 17 Lac 35 thousand. This was neither communicated to us verbally nor do we have any written/signed document stating processing charges are 10%. Which means we lost ovet 1 Lac 70 Thousand, the day my mother signed the documents.
The above was told to us by Bajaj alliance customer care. No one from Yes bank has up till this point addressed our concern.
Timeline - April, 2014
After getting no response from the Yesbank despite our efforts, I wrote to the customer care on 6th April (Mail below). Finally, Mr. Anil Bari contacts us and tell us that we should have checked the bank statements to know that our RM has changed and that he is no longer linked to us.
Ignoring this discourtesy, we request a meeting which he kept postponing until we sought legal assistance. On 26th April, finally we met Anil Bari & Bajaj Alliance representative Mr. Abhishek Jaisewal in the vashi branch office.
My parents were obviously emotional, but there was no solution provided. They recommend us that we keep the money for 3 years or more not at all comprehending the urgency of the fund crunch. Accepting a fund value of 16 lac and suffering a loss for their misconduct is their only resolution.
Timeline - May, 2014
We are simple people yet qualified enough to understand that even if the money was kept in a savings for 7% return after a year, we would have by now 18 lac 50 thousand plus. So we are expected to suffer a loss of over 2 lacs.
Therefore, the final list of frauds & breach of trust by Yes Banks -
1. False promises and trust on Yes Bank has resulted in a loss of over 2 lacs.
2. Promises of a valued and safe Fixed Deposit which can be liquidated at any time with minimal damages and within days in case of emergency was done by a relationship manager of Yes Bank Mr. Anil Bari (Ph # 8108876107). He is not an investment banker and yet was allowed to approach people in their homes with 3rd party representatives.
3. Usually, large sums are advised to be broken up into different investment plans for security and returns. This plan is usually suggested by a senior bank official (like HDFC/ICICI/SBI money managers do). No such efforts were taken by Yes Bank. The word here is "Advise". Knowing that the people in concern are senior citizens, the best course of action was expected from Yes bank. However, Senior citizens (My parents) entire retirement funds (INR 17 Lac 35 Thousand) utilized in a Life insurance scheme, a single venture.
4. The scheme had 10% processing charges (Almost 1 Lac 70 thousand plus) which was never communicated to our parents, neither verbally, nor in writing. The document which she signed too does not mention the 10% processing charge.
5. No one of working age were at home during this event. My mother (Age 58) was the lone signatory and my father was home who is 67 years of age. This almost is an obvious Yes bank scheme where sales people target the weak, selling expensive and damaging 3rd party financial products knowing full well that seniors can be gullible and trusting.
6. No support from Yes bank staff in resolving the issue. Calling up Yes touch only results in getting call backs from some or the other official who is absolutely clueless about the case. So, again we have to detail the events. Post which, all we get in terms of response is, some will call us. Again we get a call back, and we explain the issue to some new person at a higher position, who is equally indifferent and we get told, some one will call us.
Finally, I have this email id. I am hoping against all cynicism, that this time, minimum is, if I get a call, I won't be asked to explain, what is the matter. As I have explained it all in all possible details. I do hope it is read.
Our expectations are very clear and simple -
From 14th Feb 2013 - till date, my money is under Yesbank. Even the scheme still says Yes Bank Master Policy. Details below -
Mrs. ---------------------------------
Yes bank bajaj alliance life insurance single premium scheme.
Premium amount - 17 lac 30 thousand.
Membership no. ----------------------
We want to withdraw our money plus interest plus damages due to the stress caused to my family. Any basic FD would have yielded close to 19 lacs easily which was expected from Yes Bank.
We want this fund released within this month. Also, we seek to process legal charges against Mr. Anil Bari for mis-leading us and also, want actions against the yes bank vashi branch for such irresponsible attitude of sending under qualified agents home as RM who resort to cheating elderly people to meet their sales targets.
Awaiting response.
-----------------------------------------
---------- Forwarded message ----------
From: ------------------------------------------------------
Date: Fri, May 2, 2014 at 3:04 PM
Subject: Re: Wrt. Query reference number - 415176.
To: YesTouch <yestouch@yesbank.in>
From: ------------------------------------------------------
Date: Fri, May 2, 2014 at 3:04 PM
Subject: Re: Wrt. Query reference number - 415176.
To: YesTouch <yestouch@yesbank.in>
To Yes Bank.
Why was the query 415176 closed without our consent. We have no resolution and were not even informed of the query being closed.
This is indeed seriously offensive. I am getting no response to this concern. I have a stuck amount of 17 Lacs 35 thousand of my parents, their last savings.
We need to release this fund urgently and are being told a penalty of 2 lacs will deducted as penalty.
Upon dropping repeated emails and conversation with Mr. Anil Bari (8108876107), the then relationship manager, without any solution. I get told that this ticket is closed.
No phone call to ask if the issue is resolved, no intimation what so ever and you close the complaint. For now, our understanding was that only Anil Bari is rogue. But the attitude of Yes Bank is shocking.
How can a regular RM who has no sense of inventments, he is not an investment banker be allowed to approach residents of senior citizens with 3rd party people like bajaj and then no one to book him.
No senior so far has bothered to resolve this query. Please provide us the details of the Branch manager Vashi, Mr. Anil Bari's immediate head and the zonal manager Mumbai.
We are drafting a litigation for Banking Ombudsman and would need this information asap.
Regards,
-----------------------------------------
On Tue, Apr 29, 2014 at 8:36 AM, YesTouch <yestouch@yesbank.in> wrote:
Dear Customer,
Greetings from YES BANK
With reference to your appended E-mail, at the outset we regret to have given you an opportunity to raise such concern and having replied late to your concern. We wish to inform you that we have raised the matter with the Senior Branch Leadership and the matter is being looked at all levels to ensure its resolution amicably.
We will confirm the facts to you as soon as we receive a investigated revert form their end.
We thank you for banking with us & look forward for your continued patronage.
In case you need any further assistance, we request you to kindly get in touch with us through our YES TOUCH Phone Banking numbers listed below.
Thank You
Sincerely,
Rohan V. Khot
YES BANK
