Unauthorized Change in Savings Account Scheme leading to Heavy Penalty Dear Sirs, I had opened a Savings Account more than 12 years earlier as per solicited terms of the bank i.e. 2500/- QMB. Axis Bank has Illegally and Unauthorised changed the Savings Account Scheme code from Rs.2500/- QMB to Rs.10,000/- AMB, i.e. 1600% increase which means PENALTY CHARGES OF Rs.350/- PER MONTH or RS.4200/-PA This totally arbitrary / unilateral / without my consent. They are also giving FALSE REFERENCE of RBI Policy, for such change. Axis Bank CANNOT and SHOULD NOT without specific consent of customer, CHANGE any AGREED TERMS.

These kind of arbitrary changes are against Ethics and Fair Practices. 1. Either they are CROSS-SUBSIDIZING the Jan Dhan Yojana or resorting to BULLYING CUSTOMERS / Extortionist Practices to pay for lavish pay-packages and five-star overhead expenses. 2. Axis Bank is CHEATING LAKHS of Customers by tweaking scheme codes and EXTORTING CRORES OF RUPEES FROM LOW INCOME ACCOUNTS. 3. This also a TACTIC TO REMOVE LOW INCOME ACCOUNTS. RBI should ask for a Monthly Audited Report of such Penal Charges collected, no. of SB account affected, Original a/c opening scheme codes, Changed Scheme codes, whether with client consent ?? PLEASE NOTE I WANT TO RETAIN MY SAVINGS ACCOUNT AS PER THE TERMS WHILE OPENING THE SAVINGS ACCOUNT. Hope you will take necessary action. If no reply is received within 7 days IT WILL BE PRESUMED THAT R.B.I. is party to the Black-mailing and Extortionist crimes of Private Banks, against the People of India. with regards, Mukund Holkar Nasik

Maintain Original Scheme Code while opening Savings Account. Suitable compensation for Mental Harassment.

Email Id: hmukund@gmail.