I am a private sector employee. I had my salary account with Standard Chartered bank for my first Job. Later on My salary account was created in Axis bank for my next jobs.


I had some money left in my Standard Chartered bank account. Last year, one of the guys from Standard Chartered came to me and said "Why are u leaving the money idle in bank account. Standard chartered has a pact with Bajaj Allianz that you invest ONE TIME and u get investment and insurance together."


In good faith, I allowed him to do that. He invested around 80000 from my Stan chart account to Bajaj Allianz in my name. The policy documents reached my house after around 20 days of investment date. There I found that the policy is actually a REGULAR PREMIUM policy. That means I shall have to pay 80K per year to get the policy returns. If i fail to do that all my hard-earned money will go to drains. But, i do not have the capacity to invest 80000 per year to a policy which will not give me much return to my investments.



Now I am really in despair. I belong to a very modest financial background and all my financial planning is in trouble now because of this fraudulent Bank agent.


Please let me know, how can I tackle the situation now.


Regards


Kallol Ghoshal