[Resolved]  ICICI Bank — Changes in Name and Rule in SCSS Application Form

Address: H.O. Vadodara, Gujrat. Branch : Ghatkopar-E, Mumbai-400077

Sir, As everyone is aware about the SENIOR CITIZEN SAVINGS SCHEME" of Government of India. The ICICI Bank is merely acting as a facilitator in the said scheme. However to my utter surprise, I found that they have changed the Rule for Nomination in the said scheme, For eg., one of the clause before signing the application forms(on page no.3) Declaration Sr, No, 5 says that : " I/WE DECLARE THAT NOMINATION UNDER THE SAID SCHEME CAN BE DONE ONLY IN FAVOUR OF RESIDENT INDIANS" Now I am a senior citizen age 70, Married but widowed and having 2 daughters both in USA, and as per FEMA Rules NRI, to whom I can nominate ??? Again I checked with other banks eg. BOI, BOB etc... where in their application form No such condition is mentioned. Their branch Manager says : You can nominate your daughter/s, No such rule is also mentioned on the official website of SCSS Scheme. Secondly the name of teh scheme is : SENIOR CITIZEN SAVINGS SCHEME- 2004 where as ICICI Bank has changed the name to : APPLICATION FOR SENIOR CITIZENS SAVINGS SCHEME- 2019. ???? How a bank can change a basic rule of a government scheme like this. When inquired at the branch, no one is interested in solving the issue. The simplest answer is write to : Customer care.