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NLeaving this for future reference in case someone else realises that they’ve been scammed too (honestly they did it for too many people)
Dear Sir/Madam,
I am writing to formally lodge a complaint regarding the non-transparent enrollment into the [Scheme name] scheme during the opening of my Canara Aspire Account (Account No: [XXXXXX]) on 3rd April 2025 at your branch.
Grievance Details:
Lack of Disclosure & Misrepresentation:
At the time of account opening, I was instructed to sign a form without being provided its complete details or terms. The bank representative merely stated it was for “insurance” costing ₹436 + ₹20 (form charges), with no further explanation.
I later discovered that the form pertained to PMSBY, a life insurance scheme with an auto-debit mandate. Critical details—such as coverage terms, auto-debit consent, and opt-out procedures—were not disclosed, violating RBI’s Fair Practices Code and IRDAI’s guidelines on informed consent.
Unauthorized Enrollment & Deduction:
My consent was obtained under misrepresentation (as the purpose and implications were concealed), rendering the enrollment voidable under Section 19 of the Indian Contract Act, 1872.
Any deduction made or proposed to be made from my account for PMSBY is unauthorized, as I was never afforded the opportunity to exercise informed choice.
Remedial Demands:
I hereby demand the following immediate actions:
Cancel my PMSBY enrollment and confirm the termination of auto-debit mandates.
Refund any amount(s) deducted under this scheme with applicable interest.
Provide a written acknowledgment of this cancellation and refund.
Regulatory Recourse:
Should the bank fail to resolve this matter within 15 days of receipt of this letter, I will be constrained to escalate the issue to the Banking Ombudsman (RBI) and pursue further legal remedies for mis-selling and breach of trust.
I trust you will address this grievance with urgency. Kindly acknowledge receipt of this letter and provide a resolution in writing at the earliest.
Sincerely,
N**Subject:** Request for withdrawal from PMJJBY SchemeDear Sir,
I am writing to bring your attention to the forms signed under Canara Aspire account opening on **3****^(rd)** **April 2025**. During the opening process, I was told to sign a form and no proper information was provided to me regarding the form during the account opening process and was asked to sign it and was only told that it was some insurance and it would cost me some 436 INR for the insurance and 20 INR for the form. No other details were provided.
Upon researching further I came to know that the form that I signed was for **Pradhan Mantri Suraksha Bima Yojana Scheme** which is a life insurance scheme providing insurance of 2 Lakhs on insurance claim. Details regarding this were not disclosed when filling the form.
I hereby would like to withdraw my consent and fill an **OPT OUT** form to withdraw from this scheme and cancel my auto debit and refund any money deducted from my Canara Aspire Account bearing the account number towards this insurance policy.
I hope you will consider this request and take appropriate action. I would appreciate your prompt attention to this matter and look forward to a resolution soon.
Thank you for your cooperation.
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taking this letter with me tomorrow, is this ok?
NIt’s canaraI have a doc of rule from rbi making this kind of practice illegal. Should I take it with me to them?
