IDBI Bank — Urgent Request for Resolution of Penalty Charges and Refund

Address:M V Apartment, 35 GT Road, Parbrihata, near SBI, Bardhaman, West Bengal 713103

I am writing this to address an issue regarding penalty charges that were levied on my account due to a recent loan renewal. I had previously discussed this matter with your team, and they assured me that no penalties would be imposed in the event of my account balance becoming zero or negative during the renewal process. However, I regret to inform you that my account was charged a penalty of 590 rupees when the automated transaction for my linked SIP's was rejected due to insufficient funds caused by the loan renewal.Although there was sufficient balance in amount before the renewal process to pay the SIP's but got wiped off due to loan.

I had taken proactive measures by reaching out to your branch executives in advance, seeking confirmation that no penalties would be applied in this specific scenario. Regrettably, despite their assurances, it appears that my concern has not been addressed.

I urgently request your immediate attention to rectify this issue and refund the penalty charges. Attached to this message are copies of relevant documents and correspondence for your reference. If you require any further information or documentation, please do not hesitate to contact me.
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