[Resolved] HDFC Bank — sip penalties charges from savings account

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Rudrapur, Uttarakhand, India
 Amit17186 on Mar 28, 2020
I have salary account with hdfc bank. I have started with sip in mutual funds.
I have paid all sip on time but i didnt maintain sufficient balance in march 20 due to financial problems due to covid 19 virus. I have been charged ach debit return charges of rs 590 *2 total rs 1180 in march 2020.

Rbi also requested from all banks pls don't charge any penalties to customer in this knockdown period.

It is sip. How can you inculcate regular savings if you penalise so harshly for not having balance.

Hdcf bank has to return this money. There was no intimation from the bank on the consequences of not keeping sip amount in account.

Please please help me resolve this and return my money.
Complaint marked as Resolved 2020-05-15 22:20:09

Complaint Status

[Mar 28, 2020] HDFC Bank customer support has been notified about the posted complaint.
Verified Support
HDFC Bank Customer Care's response Apr 11, 2020
Dear Customer,

In terms of Clearing guidelines, issued by RBI, the clear funds balance available in the account at the beginning of the day would be considered for the purpose of Cheque(s) received in clearing. We note that in your said account, the clear funds balance at the time of presentation of the said Cheque(s), was not sufficient to cover the Cheque(s) received in clearing.

Therefore the cheque was returned due to insufficient funds and the corresponding charges for Cheque(s) dishonor were levied to your account. Kindly note that these charges attract GST as applicable.

We advise you to maintain sufficient clear funds balance in the account in the future, at the time of issuance of the cheque, to avoid the Cheque return charges being levied to your account.

HDFC Bank Customer Assistance
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    HDFC Bank - sip penalties charges from savings account