[Resolved]  Axis Bank — Erroneous imposition of Penalty

Address:

Central Delhi, Delhi

Sir,
I have taken a home loan from Axis Bank Ltd. (Daryaganj Branch). For the repayment of Earnest Monthly installments of Home loan I had given a duly filled up ECS authorization form to Axis Bank Ltd. at the time of signing the loan papers & authorized them to send this form to my SBI Branch, New Seemapuri, Delhi -95 for necessary process (for deduction of EMI from my SBI account). The Due date for ECS deduction from my SBI account was given as 10th of Every Month.

But only in the very first month (i.e. January 2011) on 20th of January I had been informed by the collection agency of Axis Bank that my ECS has been bounced and I have to submit the EMI amount with a penalty of Rs. 552/-. Accordingly I submitted the total amount. But on verification from my branch I came to know that Axis Bank did not send any ECS papers to my SBI Branch. Further, to my surprise, while checking my netbanking entries I came to know that no ECS was presented from Axis Bank Ltd. and No Bouncing had happened to my SBI account as it had enough money to settle the EMI payment.

On verification from Axis Bank branch I have been told again and again that Axis bank had sent ECS papers to my SBI bank but my Bank did not authorise my ECS mandate. Further, in the second month again I have been informed by Axis Bank that my ECS has been bounced & I have to pay Rs. 552/- as penalty plus Rs. 124/- as overdue charges with my EMI amount. I had accordingly submitted the amount.

Again on verification from Axis Bank I have been told the same thing that my ECS mandate has not been authorized by my SBI bank. Then, for my convenience I have taken the utility code from Axis Bank branch personally and submitted it to my SBI Branch. I am afraid that it will happen again. I have received an written answer from my SBI branch on the query that no ECS papers have been received from Axis Bank. (Copy enclosed.

Sir, I want justice in this matter. I want that my penalty money Rs. 552/- which i have paid two times without any fault may kindly be returned to me. and Axis Bank Daryaganj Branch may kindly be instructed to send the ECS papers to my SBI branch for necessary & regular EMI deduction through ECS.

Thanking you.

Pravesh Kumar
Judges Inquiry Committee
Rajya Sabha Secretariat.
Parliament of India
New Delhi - 110001
Ph: [protected]