Well my case with ICICI Credit Cards was really the unique one, before start explaining details of my case I must say there were few mistakes from my side and few more from ICICI Credit Cards side. I have always heard from good old folks that never trust these private banks like ICICI, Citibank, etc. but I am a lazy lad and prefer private banks so that I won’t have to run around for different items and more importantly my default bank account right from the first job was ICICI so it make sense for me to go ahead with ICICI loans or Credit Card so that I can manage all banking with a single account. So here is what actually happened, I had this ICICI Credit Card which was suppose to expire at the end of month and around 10th of month I received new card with exactly the same number but exptended expire date. Interestingly I received a letter with this new card stating that “Your old card is already been deactivated” and that letter was dated as 6th of that month. I knew that particular statement “Your old card is already been deactivated” is incorrect; as I used the card couple of times after and before receiving that letter. But somehow, I had a little bit lower priority for that card at the back of my mind and around 19th-20th evening I lost that card, although I realised that card is missing from my wallet I din’t checked for it much assuming I must have dropped it at home or somewhere in my cuppoard and on 28th when a good friend of mine asked to tranfer some money to his account I checked that my credit card is being used for last 10 days by someone. Within couple of hours I took care of complaining it to ICICI bank, FIR, and also talked to the merchants where this fraud person have used credit card, tried to track him down but I wasn;t manage to do that. ICICI took my complain and they after there so called investigation (after 2 months or so) said that they wont refund the money as per the policy. I complained to RBI (after 2 more months) and after that ICICI come up with a stronger version (after 2 more months) of reply to me in which they wrote as if there was no fraud and I myself was spending the money; sometime later I write scan and put a copy here. After all this mess RBI scheduled a hearing with ICICI, my case looked strong to me mainly due to the reason ICICI’s first letter in which they mentioned “Your old card is already been deactivated”; I talked with Bangalore RBI’s Banking Ombudsman head Mr K.R Ananda; it took a bit while to explain my case; and for some reason ICICI person din’t showed up. After that meeting with RBI, they asked ICICI either to payback my money or to showup to RBI to discuss the case but if after discussion case comes to my favour ICICI will have to pay 1 lakh additional for all the goof ups they made; within 5 days I received back the money. So looked ICICI was aware all along that I was right and it was just matter of time or rather they were avoiding to refund as much as possible. So man if you ever face with any private bank go to RBI and write a good solid application; you can ask me for tips if you want.