Indusind Bank — personal loan false promise

Address:

560078

Hi team,

I am an indusind bank credit card holder and also took a personal loan from indusind bank on the month of may 2017. Due to some serious financial issue i am not able to make payment for the credit card and also for the personal loan. I am getting couple of calls from the bank for the payment. They have provided me your email ids and told me to drop a mail and explain in details about the concern.

On the month of may 2017 i reached out to so* (Indusind bank employee) for personal loan and told him about my requirement of rs 7 to 8 lakhs for house renovation and asked him about my eligibility. After providing all the details, he called me back and told me that i am eligible for rs 7 lakhs. He will dispatch rs 7 lakhs in two installment. On first installment he will give me rs 5 lakhs and after 6 months he will give me rest rs 2 lakhs and the interest rate they will be charging is 12.99% with processing fee of 0.5%. When the amount got credit on my account, its only rs 2.44 lakhs. I immediately gave a call to so* and told him that as per our discussion till today morning, i will be getting a loan of rs 5 lakhs on first installment and the interest rate and processing fee you charged is also very high. He replied me "due to bachelor accommodation we are unable to dispatch rs 5 lakhs on next moth after paying your first emi just give me a call, we will process for another rs 3 lakhs with interest rate of 11.49%. As per the discussion and commitment made over phone by so*, i have started my house renovation process. I have paid rs 1.2 lakhs to the labor to start the work, purchased raw material for rs 4.5 lakhs (Paid 1.5 lakhs and told them that another rs 3 lakhs i will pay on next month). After paying my first emi i gave a call to so* and a* and dropped couple of mails to a*, manager of so*. Neither they have picked up my call nor they replied to my email. After few days without finding any solution i have raised a complaint to the customer care. On next day of the complaint so* called me and told me that he will process my loan after 40-45 days, just to give him little time. Due to some policy he can't dispatch my loan now and also told if i get a call from mumbai then just to say them that i have discussed with so*, and i am satisfy with the resolution. After 45 days i gave couple of calls to him but he didn't picked up my call. Again i raised a complaint to the customer care and on next day he called me and told me he will process my loan on the month of october. On november i gave a call to so*, he referred me to some one else. After checking my eligibility that guy told me that i am not eligible for the loan because i have swiped my another credit card for making a payment of rs 2.5 lakhs.

Currently my financial condition is very bad. Before starting the renovation work my parents were getting around rs 10, 000 as house rent now work has been stopped due to financial crisis. Entire burden came on my shoulder. I am the only incomer for my entire family. Instead i have to transfer them rs 10, 000 from my salary. Below are my income and expenditure in details -
Income-
In hand salary - 34k

Expenditure -
Father's medicine - 4.5k (Life threatening medicine)
Mother's medicine - 1k
Transfer money to my parents - rs 10k (For rent, food, electricity, water bill)
My expenditure - rs 11k (Rent, food, electricity, internet bill, water bill, traveling expenses)
Niece school & tuition fee - 2k
City bank emi - 8.5k
Indusind bank emi - 11k

My expenditure is much higher than my income and the only reason is one false commitment made by so* and a*. Before the month of may i don't even had any loan and my expenditure was very less but just after 6 month of false commitment my life has ruined. Everyone is asking for money. Now i going through depression. Everyday i am spending my sleepless night. Please try to understand my situation and provide me a solution to overcome it. I wanted to settle all of this and wanted to sleep peacefully. I wanted to come out from depression.

Regards,
Pankaj das
Ph. [protected]
Loan a/c no.- 701000*