Axis Bank — Loan Foreclosure

Dear Sir,
I am a customer of AXIS bank (Loan A/c No. 245010601596249 and have availed a loan of approx. Rs.1, 00, 000 from the bank in Sep'07.

Later on, I wish to foreclose my account with the Bank and wish my loan to be taken over by HDFC for which I have deposited a balance amount cheque with your bank.

However, in spite of submitting an application on 11.03.2008 and writing today i.e. 19.03.2008, the Bank is not able to close down the account and on enquiry, the reply is that it may be closed day after, or may be next week.

In today's professional world, wherein a Standard Operating Procedure has been created for almost most of the regular work, this reply is pathetic. I would like to quote a few of the verbatim of one of your employee Miss Anuradha posted at Retail Asset Centre, AXIS Bank, Dehradun:

a. I do not know when it can happen. May be tommorow. You know that under finacle, your loan has not yet been approved. (I asked why). I do not know, there is so much load on head office/central office. May be next week.

b. (Why it has not been done. Is there any debit/credit balance with my account.)I do not know.(Can you help). No, impossible. I cannot expdite it.

These are some of the examples of the verbatim. My simple query is, how much time a account should take to foreclose. Day before Yesterday, I was told that something Rs. 936/- are pending with my account. I had to rush all the way to AXIS bank to deposit the same. Why cannot at retail asset centre they can accept the cash of petty amount.

I have seen your office. Higher management should go and check once. Nobody know who is doing what. Not even the names of the employees/work assigned to them mentioned anywhere. All depends on the whims and fancies of the employees.

My suggestion is:

1. Impart training to employees that computers are meant for helping the work/individulas/customers and not for excusing the things.

2. Seating arrangement should show/indicate who is reponsible for what.

3. There is something called flexibility/decision-making. Each employee should have a bit of it.


-Mukesh Pal
mukeshpal@rediffmail.com