Deduction of so called "program management fee"?

Question

I am having a regular saving account . I can see that the bank has deducted Rs. 114.5 from my account under the name- Program management fee. What is this fee about? What is the program the bank is offering? The bank did not notify me earlier about any such fees. It is a fraud to deduct customer's money without taking their concerns. I want this so called fee deposited back to my account.

Answer 1

Dear Purva

At the outset, let me clarify that this site is designed and managed by a group of Senior Banking Professionals to assist Bank Customers at large to provide guidance for resolution of any complain/query/grievance in respect of financial services. This site does not belong to any Bank or a regulator, which may please be noted.

Please get in touch with your home branch officials / relationship officer / manager and seek a clarification.  If the debit was not authorized by you, online or otherwise, you may ask for reversal of the same.

RAJA