[Resolved]  Complaint Against ICICI Bank — personal loan

My name is Hukam Singh, Jaipur, representative from ICICI Bank Limited Jaipur called me for Personal Loan and I filled up an application for Rs. 50,000/- as Personal Loan from ICICI Bank before 2 year, Bank representative collect all documents required for Personal Loan, and told me that a Bankers cheque / DD of Rs. 50,000/- as personal loan will be given to you with in 7 days.

After 15 days representatives of Bank told me on telephone that you came to branch and collect your cheque, you also bring 8 blank check because bank keep 8 cheques as a security and will returned you after completion of your loan.

I reach at Raja Park Branch and give him 8 blank cheque, after two three hours the bank representative said Credit manager went to main branch by a urgent work so you collect your cheque tomorrow. Next day he told me that your cheque of loan will given in next week because approval is pending.

After one week bank representative Mr. Pankaj told me that your approval has cancelled and I will return your documents and cheques after two three days because I am out of station.

But bank representative Mr. Pankaj have not returned my documents and cheque, after 7 month, in the month of August 2008, he called me sir, my friend is credit manager and you apply this time for loan, This time definitely we will give you loan, you give copy of your driving license and pan card and one photo.

On 10th August he came my office and said sir I will collect documents tomorrow from residence, you sign on this application form, I have signed on application form for PL of Rs. 50,000/- and given him copy of driving license, pan card and one photo and next day has not came at my residence and within 7 days without any information Bank credited my SB account by Rs. 4,88,764/-. I was very surprised and told to bank representative Mr. Pankaj that bank direct credit my SB account by Rs. 4,88,764 in place of 50,000/- by mistake.

I asked him for this heavy amount, the bank representative told me that bank released this fund in your account on behalf of your credit and good relations, but I don’t know, without any sanction letter, terms and conditions, without any income proof, bank credited my account by a heavy amount. I told to representative of Bank that I want to return this amount to Bank because I am not capable to pay interest of this heavy amount.

Next day I went to Bank and meet to loan manager and explained this problem, and loan manager have also told that we can’t help you because loan sanctioned and disbursed from Mumbai, so you contact after six months (means in the month of February 2009)

I meet to the branch manager, ICICI Bank, Mansarovar, Jaipur, he also told me that our Personal Loan Officer told you about this, loan office also repeat same language, bank have released the amount in your account, now before six months can not settled, you have to pay atleast six installment of Rs. 16030/- per month, after that we can close your account.

In the month of February 2009 I went in the branch and I said for close my loan account but manager said you have to pay 4,72,000/- + 5% closing fee ( that means around 5 lacs) Bank already withdrawal 96,180/- from my saving bank account with in six months.

I have write many letters from August 2008 to March 2009 to Bank Officers (chairman, PL Manager, Branch Manager, CEO, Collection Manager, Credit Manager at Mumbai, Delhi, Chennai, Jaipur etc.) to close my personal loan, I also went in lok adalat in Jaipur in the month of February 2009 to close this PL account but have not received any response.

I explained to the Manager of ICICI Bank that I am working in an NGO, my salary is 6500 per month, residing in a rental house, how will I pay 16030 per month, please cancel my loan immediately, but bank had not listen my request.

Till dated I have not received any sanctioned letter, any terms and conditions, I don’t know what is the procedure for return the loan.

I planned that why not this amount invest in business and earn more money so that we can pay this amount with interest to bank and I have invest 4 lacs in market and lost this money. This time I am in depression of losses.

Bank representatives alternate day came at my office and residence for recover the money, many time I requested to bank that my income is 6,500 per month I will pay this money from my income but they are doing bad behave with me and my family.

Executive of ICICI Bank doing behave with me:

1.Use ugly language with my wife and gave her mental torture.
2.Used foul and raw languages
3.Gave threats and was very abusive.
4.Taunted and tried to humiliate.
5.He was adamant and said that he will come in the night time to disturb till the time we do not pay him.

Mentioned a few words that they used, have a glance at the following utterances of that person –

1. "Jab tumhari paise wapas karne ki aukaat nahi hai to fir loan kyun lete ho"
2. "Ya to payment kar de, warna bahut tarike hain bank ke paas paise lene ke"
3. "Ek to tu payment nahi kar raha hai, aur upar se pooch rahi hai ki bank ne kis aadhar par lon diya hai".
4. ”Ham paisa dena jante hai to lena bhi jante hai”.
5 ”Tumto Kya Tumhara Bap Bhi paisa dega”



These are not the only statements that the bank executive used, but were also accompanied by an offensive and abusive behaviour and language, which is legally and ethically against the Human Rights and Indian Penal Code.

I am filing a case in this Consumer Grievances Redressal Forum Jaipur and had appealed this court to make ICICI Bank and their recovery officer and agents involved compensating me for peace and happiness. I am also filing a case in Banking Ombudsman site www.bankingombudsman.rbi.org

I am attaching a said rules released from RBI so that consumers can get awareness where to go if they are facing same traumatic tensions or experiences due to financial institutes. An appeal is also be made to President of India and PIL should also be filed in Supreme Court about the Financial Institutes or Banks like ICICI bank and collection agency who misuses power of Section 138, 420, 406 on innocent clients. As because loans are taken by peoples to improve self quality of life and not to spoil own career. Circumstances at all time do never remain the same.

However during the course of loans, paying EMI - Business, health, and services can cease or pause, Natural disasters, casualties, diseases, accident, incidents, profit and losses are beyond human controls and bank should understand it. Wise bankers should not consider every client as cheat or slave. During such situation if the client fells, Bank should cooperate and not traumatize and humiliate their customers.

In all fairness, ICICI Bank should have at least checked our credit worthiness before going on this harassment and hounding 'rampage' till we had no option but to carry out our own investigation and point out the problem your Bank.

We hope that you take note of this experience and prevent the same from occurring again.

I am fully in depression, I don’t know what I have to do. I have lost my job presently I am jobless.

A copy of his letter is being sent to following people/email ID's –
[protected]@aajtak.com - for necessary coverage
[protected]@indiatv.com - for necessary coverage
[protected]@zeenews.com - for necessary coverage
[protected]@dnaindia.com
Thanking you,

Yours faithfully,

Hukam Singh
[protected]@gmail.com