ICICI Bank & ICICI Prudential Life Insurance / manager compelled to take an insurance/mutual fund (showing it as rd) to own a locker : cheating/misleading

India Review updated:

My mother approached ICICI bank to get a locker. They insisted to open an account and she did. She also deposited the required money for the Locker fee. And some amount to the account.
But Inspite of that the Bank manager insisted that she should take an Recurring Deposit (with recurring payment of 50000 Rs). And only then My mom would be able to get the locker facility.
So My mom thought it was necessary to take the Recurring payment and So she said she would take the RD to the manager.
But This manager has made her to sign documents for "ICICI Prudential Life Insurance" Guaranteed saving insurance plan. Without explaining her that this was an insurance and not a Recurring Deposit. He made her sign with false statements. The key part is she thinks this is an RD until we noticed no RD account created even after 6 months and that we received the Insurance Documents.
Please help us with this regard. We do not want to pay any insurance now and We have been mislead/cheated.
Please help or I am planning to take legal assistance.

Thank you

Mar 08, 2013
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  •   Mar 12, 2013

    Dear Mr. Rajaganesh,

    We regret the inconvenience caused. We request you to help us with your contact and policy details to assist you .

    Alternatively, you may also post your concern along with your policy details on
    Request you to quote the reference number 030185 whilst sharing the details. Post receipt of the requirement, our representative will get in touch with you within 48 hours.

    ICICI Prudential Life Insurance

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