Hi All,
This is Anshul staying in Baner, Pune. I have a Axis Bank Debit Card.
On 1st Feb'09 Sunday, I forgot my Debit Card in the Baner, Pune ATM after my Rs 500 Transactions. Then, I realized at 10:00 PM same day that I have forgot card in ATM machine and instantly I blocked the card.
Next day, when I went to Bank they told me that my account has been debited with Rs 10, 000 on Sunday 1st Feb between the time card was left in ATM and till I blocked it.
Transactions were :
500 and 4500 around 1 - 1:30 PM & 3000 and 2500 around 8 - 8:30 PM on Sunday itself.
From the Account statement, somebody has used the card on Sangoi Service station( Petrol Pump - Opp Rahul Theater, Sivaji Nagar, Pune) 4 times on Sunday.
1) 500 and 2) 4500 around 1 - 1:30 PM & 3) 3000 and 4) 2500 around 8 - 8:30 PM on Sunday itself.
Then, I went to Sangoi Service and got 3 purchase card slips of 500, 4500 and 3000.
After talking to Petrol pump owner I got that all the 3 slips were signed with " different signatures other than on card" and the owner doesn't keep the bills copy stating which vehicle has used it.
Then, I filed an FIR with Aundh, Pune Police Station - Till today no updates from Police.
Apart from this, Axis Bank team told me that they are not liable for loss as these un authorized transactions werwe done at Petrol Pump and as per laws he should have verified the signatures and kept a bill copy with vehicle number.
But, Axis Bank has been cooperative that they asked me to fill an complaint application against which they may try to reclaim 10000 money with insurance done on my card.
But, I would like focus that how normal retail people are careless :
1) they don't check signatures on card
2) Being a big Petrol pump they don't keep copies of bill . Also, Petrol owner said why should they keep bills as they do a lot of transactions and its unnecessary.
I accept initially it was my fault for forgetting the card. But, I plea to Indian goveenment that what can be done in my case.
Finally, please guide me is it possible that I can deny to these un authorized transactions, as on card purchase slips the signatures were not mine and too not checked .
Regards,
Anshul
[protected]
Aug 14, 2020
Complaint marked as Resolved 
![Reserve Bank of India [RBI]](/thumb.php?bname=1&src=reserve-bank-of-india-rbi.jpg&wmax=182&hmax=300&quality=90&nocrop=1)
Also I had been regularly calling the bank in general and Mr Ramesh n Ajit in particular for the information on change in the ROI – but till date there has been no correspondence to that effect. The bank is supposed to inform the client about the revision of the ROI especially if it is a upward revision and give an option of revising the EMI to maintain the tenure same. During the visit when checked the system showed that NO LETTER TO THIS EFFECT WAS SENT TO ME. This in effect has cost me a recurring loss!!!
The other issue is that of rounding off of decimals – all good banking rules say upto and inclusive of 0.50 is rounded off to the lower and from 0.51 upwards to the higher. That is the rule AXIS bank follows for the savings and current accounts too – so HOME LOAN is no different. You can't tell me that it is the RBI policy – if so please send me the extract of the policy or guideline – RTI.
Imagine the quantum if you consider all the loan accounts the bank has.
Then THE BANK HAS a policy that if the 5th of the month is a holiday – THEN THE BANK will work the account on the 6th or the 7th and charge interest on interest for the difference of days – again THEY claim it is the RBI policy and Bank rules - the issue here is that if a particular day is a holiday – or if there is a delay in the clearing house – does the customer have to suffer – a policy issue !!
As has been categorically told to me by your staff and is evident from the calculations as also from the printout given by your bank – [though initially your staff were not sure themselves] the interest is calculated on the number of days in the month [interest * number of days in a month / number of days in a year]. 2008 being a leap year your bank has calculated the interest for the month of February for 29 days, but……….. the denominator which also has to change to 366 instead of 365 has not been done – this suits the bank as it collects interest for one extra day – this procedure has been confirmed by an email sent to me from your bank. This amounts to about Rs 480 odd in my case! Imagine the quantum if you consider all the loan accounts the bank has.
Lastly, despite all this or rather without giving due cognisance to all these issues – there is a difference of about Rs 90 odd even now- which remains unexplained!! What perturbs me most is the fact that not a single soul in the whole RAC Pune could explain the way the loan account functions the way the interest is calculated etc.
Besides – while speaking to Mr Gupta he repeatedly mentioned that he was trying to help me [more then he should be doing]– but then I thought that was the basic duty of the bank staff towards their customers – and this is more of clarifications then help being rendered. The mail sent by the bank on the 5th of March is more like – these are the ways of our bank – please lump it – you cant leave though!!! The last statement could be corroborated with the reaction of Mr Gupta when I told him that I would have no choice but to take remedial measures – to which he said "Please go ahead – our legal department will deal with it."
CDR MUSTAFA DHOONDIA