ICICI Bank — Top-up loan moratorium

Hi:

With utmost grievance, I wish to bring forth the below-stated case that caused me and my family under tremendous mental pressure all in a sudden and that is also because of wrong information and commitment by ICICI Bank’s collection officials/agents.

I have taken a top-up loan dated on 19th September 2018 and has been continuing by making payment on-time as well as sometimes there was a couple of delayed payment.

Once the RBI had declared the moratorium in a press conference dated March 27, 2020, announced that all banks, housing finance companies (HFCs) and NBFCs have been permitted to allow a moratorium of 3 months on repayment of term loans outstanding on March 1, 2020, like many others I have also opted the same and Bank had used a Google Form where no confirmation appeared in the screen!

So when I have contacted the collection agents/officials (sometimes they have contacted me) they have had confirmed that the moratorium had been approved.

When The Reserve Bank of India (RBI) announced an extension of the moratorium on term loan EMIs by another three months, i.e. till August 31, 2020, in a press conference dated May 22, 2020. The earlier three-month moratorium on the loan EMIs was ending on May 31, 2020. At that time also I have applied the same on monthly basis but as usual there was no confirmation on acceptance or rejection and those agents/officials were assuring me that the moratorium was on at my loan account.

Now, suddenly, dated on 04/09/2020 an executive/official/agent has arrived at my residence (half wearing the mask) and asking the 2 months pending payment and to my surprise he has mentioned that my moratorium application has rejected for last 3 months! And he has given me a deadline to make the payment.

If I have taken the loan then I am liable to pay back but a minimum responsible communication I can always expect from a brand like ICICI Bank. And moreover, when I checked back with other loan subscribers (as few of my known person), they have had also faced the same problem.
In continuation of that September 11, 2020, I received a call from a lady where she mentioned her first name and asked me to make the payment within the payment. When I had clarified her along with my grievance about not receiving statement monthly basis, she said she would be sending but that never appeared. A blank with deleted message had appeared in my WhatsApp number after a while but no statement and immediately I had reported the same to the person who came to my residence dated on 04/09/2020 and he kept quiet!

The same gentleman has appeared again to my residence (half masked where the nose was open) and handed over the statement and again reminded me about making the payment within September 15th, 2020. And I have requested him to allow me a number of more days to make the payment. But he refused and said he can’t do anything.

Now on September 13, 2020, at around 2.19 p.m., A gentleman introduced him as a Bankshall court Advocate as well as ICICI Bank’s legal advisor briefed me over the phone that he had received a mail from a lady of the legal team of ICICI Bank that an FIR should be lodged against the borrower in our local police station because of failure of paying 2 EMIs’ and immediately should communicate with the lady who had to send the mail to him. I have called the lady and she has introduced herself as a legal advisor of ICICI Bank and asked me to make the payment within 15th September 2020 and when I have requested her that I cannot pay then she had said that I should tell her the date and I have said immediately that would let her know by September 14th, 2020. By the way, when I made the call she was busy as she said and she called back at 4.26 and I made her call at 4.18 p.m.
As per the request by the advocate I had reported the discussion to him at 2.39 p.m. and he has asked me to get the mail from legal advisor lady initially and then said he would do the needful and let me know. As he didn’t reciprocate hence I called him again at 3.20 p.m. and get the idea and the gentleman has suggested to me that I should pay If I am able to manage the money etc. And we hang up!

AND THE PROBLEM IS THAT I CANNOT PROVE ALL THOSE communications I HAD WITH THE AGENTS/OFFICIALS AS THOSE WERE VERBAL & OVER TELECOM!

Am waiting for ICICI Bank’s higher officials’ interaction on this issue.

I don’t like to mention those agents/officials name and phone number over here as this is an open forum but if required I can produce the same to the right person.

N.B. And I have never denied that I won’t make the payment but due to sheer lack of communication process, I required more time to arrange the fund. And this is Pandemic situation that we should not forget.