Misleading Financial Institutions have to be penalized for blaming the Regulatories

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Below are listed few illegal proceedings by Airtel Payment Bank which all must be aware of. This information needs to be circulated through-out all the people who believe in using digital money and transact using white money over the KYC based Wallets and Payment Banks.

This is a real-life based incident/case which is still active and reported in the notice of RBI/Cyber Crime/TRAI/Consumer Court/Airtel Leadership and many other bodies who we feel assured of. I am Kunal Gupta, a regular citizen of Indian Republic and a citizen who pays his taxes regularly and violates none of the Indian Constitutional Rules. This case is active with numerous people in India and Airtel has frozen the Wallet Money/Balance of a lots of Indian Citizens by misleading an RBI regulation. I have this feeling that I am wasting the time of few Indians but this is the educated side of the society who is fighting against the violation of a Constitutional Right that we all possess.

If I am replaced by a normal Rehriwala or an uneducated Indian, probably he could face some severe issues due to this ill practice of Airtel.

1. Airtel Payments Bank freezed the amounts available in the Bank Accounts/Wallets belonging to all of us which restricts us to transfer that amount to a Bank Account for regular usage. So if I have a sum of Rs 10000 available in Airtel Wallet means that I can only use this amount for Airtel Internal Transactions. This could be a very easy issue for those who are sitting in front of the Social Media screens. But this is a serious issue if we consider our old-generations/middle class or lower middle class society.

So, this all started with an RBI regulation which asked all the Bank/Wallet Running bodies not to allow any Bank Transfer if there is a KYC pending on a particular wallet. The RBI regulation is very crisp and clear which every Financial Organization has to follow. Now we as a customer of Airtel Payments Bank Wallet (regulated by RBI/TRAI) expect a communication from Bank's end prior to getting our amounts freezed. There was no such communication given by Airtel and they just moved ahead as a monopoly. Upon being asked, they are blaming RBI guidelines for this freezing of wallet balance. But the case is not exactly the same.

Airtel Payments Bank, first of all, opened our bank accounts without our prior consent. You might have seen a strange New Tab in My Airtel application named as 'Payments Bank'. They provided each one of us some benefits which we used to get from every second service provider like PayTM or Freecharge. Once we all successfully completed the KYC for our transactions, we assumed us to be compliant with the Indian Govt Regulatories and UIDAI. Aadhar Linking is supposed to be beneficial for each one of us. But Airtel seemed to be a bit crime-oriented here.

They freezed each one of us's amounts with them which we can use only within the app. This amount is something which is not actually our Bank Balance, but INR converted into Airtel's in-House currency. At present, they are holding a sum of Rs 5000 which belongs to me and a sum of Rs 1700 which belongs to one of my friends. Apart from this, there are lot more just like us who have raised complaints with Airtel Bank to access their very own TRANSPARENT WHITE MONEY.

And again, Airtel Support Services is one of the International Worst Standard Support Services. I will give an example in my particular case-

2nd of March- I seeked a Payment which was credited by a friend into my Airtel Payment Bank Wallet.
4th of March- I tried transferring this amount to my Bank Account to buy some equity fund (for Zenith Birla BSE) which I could not complete because of this amount being frozen with Airtel. Instead, there was an inappropriate message displayed on Airtel Payments Bank app which stated something as - "Attention! This service is currently unavailable. You can continue using your Airtel Money Wallet for Recharges, bill Payments and shopping". I thought that there is going on an application server issue and terminated that process.

8th of March- I rechecked but same thing was being done.
9th of March- I called up the Airtel Payment Bank Customer Support team who misguided me by saying that according to Non-KYC Integration, this issue is occuring. Upon contesting that I have already completed KYC successfully, they told that there is a separate KYC process for the Bank. But the reality is there is only 1 KYC option available in the My Airtel app. And this screen misguides the customer again.

11th of March- I got irritated of this and I called up Customer Support who told me the same 9th March story and upon some investigating questions, they gave this new reason that RBI has regulated this restriction that Customer cannot transfer the amount in any Regular Bank Account from the wallet. According to them, This regulation came around 26th of Feb, 2018. But misleading started from Day1 when they received a regulation from RBI and didn't conveyed same with their customers just for the reason that could be able to use this Customer's Capital Value somewhere else.

Then, I finally managed to raise a refund request by sharing all the Airtel Requested documents which they promised to close on a high priority. Though the maximum TAT was 4 working Days.

12th of March- Day1
13th of March- Day2- I received the same 9th March story over an official email.
14th of March- Day3
15th of March- Day4 was over but no Refund was processed.

16th of March- I sent an irated mail to Airtel keeping the Top Management in loop. I received a call from an airtel service associate, who told me that they will terminate my account post processing of refund. (No other bank terminates your account if there is any refund is seeked or even in case of a Payment Unrealized/Bounced). I fought over this issue and lastly asked for the Airtel Customer Grievance Redressal Policy and Refund Policy and the associate turned back saying that they will not terminate the account.

By this time, I had realized how big do they make fools out of us. This is not specific to any particular associate but whole Airtel Bank Malpractice Business. The very same day, I wrote a mail keeping TRAI, RBI Ombudsman, Cyber Cell South Delhi, Consumer Court bodies in Cc about this malpractice and since then they are trying to manipulate me or settle down the issue by convincing me of a Airtel Favouring consensus.

This has to be addressed to all of my Indian Fellows. This can happen to You, Your Parents, Your siblings, Your Nears and Dears or anyone. But this is an ill practice which has to stop. Lets join Hands in Hands for bringing this into the notice of each Customer Support Services that we Pay for the services that they support us for. But unfortunately, they provide inconvenience to us instead of any type of support.

Airtel Payment Bank fakes and Wikipedia/Internet sources are a proof for same.