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Personal Finance Exclusive
PNB Metlife refunds Rs25,000 to the correct policyholder: another Moneylife victory

PNB Metlife has returned Rs25,000 to the correct policyholder to make up for their error in earlier refund to wrong policyholder, following an article in Moneylife on 2nd May.

On 2nd May Moneylife had put out article about a PNB Metlife policyholder who was given a run around for Rs25,000 that it collected through its flawed online premium payment system. Ms Asha Kapoor (name changed) had approached Moneylife insurance helpline seeking help to get her money back, which PNB Metlife, surprisingly had given to some other policyholder. The system has no check of the entered data of policy number, date of birth, mobile number and email address and so the payment of Ms Kapoor was applied to a wrong policy number due to a typo with one digit switched (e.g. policy number 37012645 instead of 37012654).

 

Read - PNB Metlife online premium payment: You may lose your money for a minor fault!

 



Following our article, Ms Kapoor got a call and an email from head – grievance redressal team of PNB Metlife the next day (3rd May). According to Ms Kapoor, “He said in his conversation that he was sorry about the whole thing and that PNB MetLife would be looking into the lacunae in their system. They promised to deposit Rs25,000 into my PNB MetLife account within 3-4 days as premium paid for 2012-13 (original payment was done in Jun 2012 ).”  The premium amount of Rs25,000 was deposited into Ms Kapoor’s account on 6th May morning.

 

Moneylife had written to PNB Metlife on 25th April and 30th April and a call was made on 26th April, but there was no response. PNB Metlife was probably waiting to see if we really write about it and may be hoping that the issue gets sidelined.

 

Customers would now look forward to an improvement in PNB Metlife’s online premium payment system. In fact, we wonder why PNB Metlife online premium payment system even asks for the date of birth, email and mobile number when it is not cross-checked with the policy number for which the payment is made. It is not just the absence of cross-check of policy number to date of birth, mobile number and email address. The system accepts payment to even non-existent policy number. In short, you can even pay for a junk policy number.

 

PNB Metlife has recently launched TV ads that proclaim to “Be Double Sure” in life. A bank customer who receives money from the cashier does the counting of the money, when the cashier is counting and counts it again after receiving the money. The punch line is that “Paisa ho ya life insurance, hamesha double sure hona hi accha hain. Punjab National Bank and Metlife ne milke banaya PNB Metlife. Hua na double sure.” We certainly hope PNB Metlife can live up to same standard for their online premium payment system to make it “Double Sure” for a policyholder who may make an error in keying a long number. A policyholder may key in incorrect policy number, but he or she is unlikely to make mistakes with their own date of birth, mobile and email address. There is the need to cross-check all the entered data.

User

COMMENTS

rajneesh pandey

3 years ago

PNB metlife is a scam.
i am a pnb metlife policy holder and when i opted for the policy sales manager promised something else when i got the policy documents there was something else.
same when i talked to the sales manger he took the documents from me and same that he will get the policy refunded and took all of the cancellation documents.
now they are deducting the money from my account for policy premium even i have called their customer service team and asked them to stop the charge but they have charged my card again.



rajneesh pandey
email - [email protected]
9711563298

nagesh kini

4 years ago

Congrats. Yet another case of "media activistism outreach" ?
The punching in wrong digit is the cause of the amount going to the wrong account. Possibly had the cheque been sent to the insured this could not have happened.
This is a classic case for the RBI Dy. Gov. Dr.KCC who swears by "chequelessness". They have to come out clean on what checks and balances will be put in place to prevent such gaffes.
Had MLF not taken it up, a wrong person would have been enjoying at the cost of the true beneficiary!

REPLY

N Kanitkar

In Reply to nagesh kini 4 years ago

The wrong person is still enjoying Mr Kini. The wrong policy holder was sent that money from MetLife.

nagesh kini

In Reply to N Kanitkar 4 years ago

It is certainly up to Metlife to recover from the wrong recepient.Double sure karna hi hai na?

manish wani

4 years ago

Congrats Moneylife.

My small question though. If Metlife would have responded to you phone call then would this case been settled as one off case without Metlife setting the systems correct and others still exposed to such mismanagement?

Now that the case is resolved, can this be followed through to the logical end by confirming that their online payment system is corrected?

Once again congratulations and thank you. Please keep up the good work.

raj

4 years ago

Thank you all for your wonderful comments! Appreciated.

REPLY

CA PRADEEP AGARWAL

In Reply to raj 4 years ago

It is not only wonderful comments, but MLF team has really worked very hard, plus like hawks you should keep yourself posted and bring it in public domain, we will be really great full of you all. AGAIN ALL THE BEST FOR FUTURE EN DEVOURS.

CA PRADEEP AGARWAL

In Reply to raj 4 years ago

It is not only wonderful comments, but MLF team has really worked very hard, plus like hawks you should keep yourself posted and bring it in public domain, we will be really great full of you all. AGAIN ALL THE BEST FOR FUTURE EN DEVOURS.

Shashikant Eklare

4 years ago

Congratulations Moneylife. For active support to the policyholder. It needs the concern. U have showed it once again. All the best to you.

shailesh gandhi

4 years ago

This is a great example of media acting as a watchdog and helping individual victims. More power to Moneylife

uttamkumar dubey

4 years ago

Great job indeed in the age of lawlessness and all evils!!!!

Great success in such a short span...thumbs up Moneylife!!!!

Suiketu Shah

4 years ago

As Ms Dalal rightly stated banks like Indusind and PNB have fallen in line and reversed the injustice(thanks to ml intervention) as they have some shame.

Banks like HDFC and HSFC have no shame.Infact the former specialises in harassing customers and insulting and abusing them at all levels in any which way.Try a simple thing like closing yr account with them.

Great work by moneylife:)
Suketu

REPLY

CA PRADEEP AGARWAL

In Reply to Suiketu Shah 4 years ago

PNB does not have any shame, they are charging ISO(Inter Sol Charges) with impunity, though their agreement says that ISO not to be charged, but they charge and return them back after considerable long time. Why? charge in the First place

Suiketu Shah

In Reply to CA PRADEEP AGARWAL 4 years ago

Mr Agarwal

PNB atleast has the shame to reverse the wrongdoing pointed out my ml.HDFC Bank behave with every retail customer as if they own the money and refuse to close the account saying "come after 1 week".The rule says once all paperwork is over account has to be close same day.HDFC Bank staff also hate each other the way they behave with each other.

PNB are angels compared to HDFC Bank Mr Agarwal.

DR TENY

4 years ago

great job,money life

DR TENY

4 years ago

great job,money life

DR TENY

4 years ago

great job,money life

DR TENY

4 years ago

great job,money life

DR TENY

4 years ago

great job money life

Rakesh

4 years ago

Keep up the good work Team....

Kavita Swame

4 years ago

Moneylife you are my hope, it really works I have been following for sometime. Retired individual also got his money back from IndusInd bank etc. Thanks a lot.

SC imposes Rs5 lakh cost on Maharashtra for delay in filing affidavit on police reforms

While imposing the cost, the apex court also rapped state governments for  taking its directions 'very lightly' and filing affidavits as per their convenience

The Supreme Court on Monday imposed an exemplary cost of Rs5 lakh on Maharashtra government for delay in filing its affidavit relating to compliance of the apex court's directions on police reforms and constituting State Security Commission(SSC).

 

A bench comprising justices GS Singhvi, Ranjana Prakash Desai and Sharad Arvind Bobde said, "Maharashtra government filed the affidavit on Monday and its counsel has given different explanation and submission for delay in filing the affidavit and non-compliance of its directions by bureaucrats. For this delay in filing affidavit, we are imposing a cost of Rs5 lakh".

 

The apex court also said some of the state governments are taking its directions 'very lightly' and it has now become a habit for them to file affidavits late.

 

It said there was a direction for Chief Secretaries of Rajasthan, Haryana, Uttar Pradesh, Andhra Pradesh, Maharashtra and Goa to file affidavits by 3rd May in this matter.

 

The Supreme Court also made it clear that it was not for state governments to extend the time of filing affidavits suo motu.

User

COMMENTS

PRABHAT

4 years ago

IT MUST BE RECOVERED FROM ERRING OFFICIALS AND TO BE FROM PUBLIC FUNDS WITH GOVT.

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