Grievance Redressal

Following is the process for ICICI Bank Private Banking customers -

Introduction of Business Operation Structure

Private Banking Business of ICICI Bank is carried on the basis of Marketing Centre and Booking Centre model. Each transaction of the customer is linked to a Booking Centre and a Marketing Centre.

The management, operations and performance of any third party products shall at all times be the sole responsibility of the respective third party product provider and neither the Marketing Centre nor the Booking Centre is responsible for the same.

For further details on Booking Centres and Marketing Centres, please refer to the document ‘Disclaimers and Risk Disclosure Booklet’ (DRDB).

Mechanism to handle Private Banking Customer issues:

At ICICI Bank, we strive to deliver a convenient and hassle-free customer service experience in keeping with our ‘Khayaal Aapka’ philosophy.

ICICI Bank follows a robust process to review and resolve customer grievances independently, effectively and promptly. This is key in providing an assurance to our customers that their concerns and feedback are dealt with fairly and professionally. We regard complaints as potential indicators of areas for improvement.

Complaints are handled at the respective regions by a superior and trained independent complaint officer, under the supervision of senior management. Every complaint is recorded with a unique complaint number, which is shared with the complainants for future reference. The process for handling and resolution of the complaints would be as below:

- An acknowledgement would be shared with the complainant within 2 business days after the date of receipt of the complaint, acknowledging receipt of complaint by the Bank.

- Details of the discussion during the interview of interaction with the complainant, if any, would be shared with the customer by the Bank along with the final response from the Bank with regards to the complaint. 

- Bank will endeavour to respond to the complainant within 20 business days (or lesser as warranted by the Regulatory Authority) after the date on, which the complaint has been received by the Bank.

- In case of an unforeseen delay owing to the nature of the complaint or otherwise, Bank would send a written response informing the complainant regarding the reason for the delay and the indicative timeframe within, which the complainant may expect to receive the final response from the Bank.

If you have any query/concern, please follow the below process to facilitate resolution of the issues faced by Private Banking customers.

Step One: In case your expectations are not met by any of the products/services, we request you to approach your Relationship Manager (RM) immediately for required clarifications/solutions.

Step Two: In the unlikely event that you are dissatisfied with the clarifications/solutions provided by your Relationship Manager or you have not received it, you may raise your grievance to headprivatebanking@icicibank.com.

In case you are following up on an already raised grievance, then please quote the earlier reference number in all communication to us pertaining to the grievance. We would contact you within 2 business days from the date of receipt of your communication.

• Please also inform us about:
  • Your name and Customer ID/ Account number;
  • The reasons behind your grievance;
  • The product/ service, if applicable, that your grievance refers to;
  • The name/s of the person/s that you dealt with earlier on the matter;
  • A suggestion of what you would like the bank to do to resolve your grievance.
  • Submit copies of any documentation relevant to your grievance.

In case the resolution within prescribed timelines is beyond our control, we will provide you with a revised timeline.

Please note that handling of grievance will depend upon relevant Booking Centre, Marketing Centre, and any involvement of matters related to management, operations and performance of any third party products. Hence in the process of grievance resolution, the relevant information may be required to be shared across different groups/ divisions of ICICI Bank, its distribution network and with external bodies. Customer will have no right to raise an objection on such sharing of information.

Step Three: You are unsatisfied with the response given by the Bank. In this unlikely event, you may write to the respective Regulator/Banking Ombudsman.

Escalation to respective Regulator/ Banking Ombudsman:

After having followed the above process, if:

(i) Your concerns have not been fully addressed by the Bank
(ii) You are unsatisfied with the response given by the Bank
(iii) You do not hear from respective officials of the Bank in the time period indicated then

• You may write to the regulator of your Marketing Centre for Marketing Centre related matters.
• You may write to the regulator of Booking Centre for Booking Centre related matters.
• We shall help you get in touch with the respective product providers directly, in case of other matters relating to management, operations and performance of any third party products.
• You may directly approach the India Banking Ombudsman for redressal, in case of India based products and services.