[Resolved]  Reserve Bank Of India (RBI) — Sub: falls commitment and cheating by ICICI Bank

Address:

Ghaziabad, Uttar Pradesh

January 31, 2015 Dear Sir, Sub: falls commitment and cheating by ICICI Bank This has reference to my loan a/c no LPGHZ[protected] dated 20.05.2014. Please note that we have received calls from ICICI BANK direct sales executive (DSE) Ms. Archana from her mobile no [protected] regarding transfer of my personal loan from HDFC BANK Ltd to ICICI Bank Ltd at lower rate to 13% to 14% and no prepayment charges if it closed premature during the first week of April 2014. I got agreed due to lower rate and no prepayment charges and provide all relevant document to bank executive (Name not available with me) and sign the application form as per executive advise as he suggested me it will take too much time to fill and complete the application and your application will proceed according to terms and condition disclosed by Ms. Archana. I asked to Executive to fill at least rate of interest and on my request he has disclosed the rate of interest13.5%. But I forgot ask him to disclose the prepayment charges. Later ICICI bank approved my loan amount Rs.800000/- and issued me DD payment of my dues to other banks and balance amount to me. I have closed my all other bank dues and was very happy due to reduction of interest by 2%. But on dated 20.05.2014 I got socked when the welcome latter received from ICICI BANK LTD. There everything were all right except prepayment charges which are in the letter 5% on principal and 5% over outstanding interest and these condition are not acceptable to us. I have contacted to Ms. Archana to her mobile no [protected] and she assured me it is by mistake and very shortly it will be changed “I have raise your concern to bank’s Mumbai office and corrected latter you will receive shortly give me one week time” But after deducting of my first installment on 15.06.2014 Ms. Archana never pick my calls as she was aware that after deducting of first installment Customer could not do anything. Later I have contacted her several time and send 5-6 SMS (I am having with my mobile) She never reply to me in the matter. I have also contacted over mobile to ICICI Bank Customer care but they said sorry we are unable to do anything in the matter. During month of July 2014 I have contacted over phone to National Consumer helpline and they suggested us to write to Head customer care ICICI Bank and they had replied me “we are enquiring the case and not give me satisfactory reply” and prolong the case and during the month of November I have received a call from ICICI BANK Sales Manager Mr. Rizwan vide mobile no [protected] and He told me that person who tackle all such cases leave the organization and I have been transfer to this post and all the pending case including yours shorted out very shortly please give me some time to enquire the matter. Later again He contacted by the end of November 2014 through above referred mobile no and told me yes there are wrong commitment by the DSE please take some compensation from the DSE and close the matter but I denied the same and told him VERY CLEAR please take back your prepayment charges otherwise I will raise this issue to RBI Grievance Cell as well as PG portal. But since then Mr. Rizwan never contacted me. This case is knowingly delayed by the bank so that I will get frustrate and sit at home without taking any further action against the ICICI BANK. I am continue paying their EMI but now bound for 5 years with the bank and if we close the loan premature a huge amount towards prepayment charges not only I have to pay on principal but also on outstanding interest amount. This is very tough to take loan such a big bank then money lender. Bank is openly disobeying rules and regulation framed by RBI and it is doing its business with monopolistic manner. I am surprise that such a huge bank is cheating to their customer very smartly to improve their profit. I have explained above all the facts in the matter at our end and hope from the Government of India to provide assistant to a poor customer from such a big bank who promise to innocent countrymen a lot but start cheating with them when they went to bank for Loan and other such services. Please keeping in view the above fact please take suitable action against the bank for falls commitment and give us justice in the matter. I am attaching herewith the copy of welcome loan letter issued by bank for your ready reference. This is my humble request please look in to matter and do the needful if I am wrong please also take action against me. I am waiting for your kind response in the matter. Yours Truly, RAJ PRAKASH GUPTA Mobile No.[protected]