[Resolved]  ICICI Bank — Non-disclosure of information, unethical deduction of fee

I had applied to ICICI bank for a home loan on 24th May with a specific request that I need the loan by 1st June as my installment payment was due at that time. I was promised the same by agent with a margin of 1-2 days. I submitted all required documents as suggested by bank representative (Mr. Vimlesh Tripathi) on the same day and my wife signed as a co-applicant on 27th May. I was told that I need to provide a cheque of INR 6197 towards administration fee which would be encashed once loan is reimbursed. In the first week of June I was told that my sanction letter was ready but I need to provide an additional document which is a permission to mortgage from HUDA. When I checked with HUDA I was told that they take at least 18 working days to provide such a document and in certain cases it's not even possible to provide the same. As getting the loan disbursed so late defied the purpose of loan I asked ICICI rep that I would like to withdraw the application as I was not aware about this document, I was told that this is not possible and also the cheque which was taken against administration fee was encashed. There are a few points which I'd like to raise here for your kind attention: 1. As initially I was told that me being a privillege banking customer, I don't need to pay any processing fee but in the end the cheque taken against administration fee (which was supposed to be cashed on loan disbursement) was cashed against processing fee. Isn't this unethical and breach of good faith? 2. As I already told ICICI rep that loan disbursed after a specific date isn't useful for me, isn't it his liability to make me aware about any documentation required from a third party which may take lots of time? 3. I was also told that I need to take an insurance cover for which extent and conditions would be discussed once my loan is processed but the sanction letter I got shows an insurance cover of INR 1Lac which is not sufficient for my purpose and was never discussed with me. Isn't this unethical on part of ICICI to take signatures from customers applying for a loan in good faith and then decide and provide a cover on their own for which I have to pay? I've already made representations to ICICI branch (Manager Mr. Sachin Satija), regional head (Mr. Abhishek Banarjee) and head of customer care but to my surprise everyone seems to be supporting this unethical behavior and is not bothered by the breach of trust going on here.