[Resolved]  Kotak Mahindra Bank — Cheating- assuring approval of OD limit while getting signature on business loan papers.

Address:

Sector- 50 Gurugram

I was assured of 50 lacs OD limit with 10.50 percent interest, against swipe card machines (more than 10 Cr cash payment) being used at my petrol pump. Garvita ([protected]) was handling my case. Subsequently after two weeks of continuous assurance Garvita told me that henceforth my case will be dealt by his senior Mr Tejas ([protected]). Garvita brought Mr Tejas on line and details of OD limit against swipe machines at petrol pump with 10.50 interest was discussed in details. Mr Tejas reassured me that 50 lacs OD limit with 10.50 interest rate will be approved by coming Monday.
Today (29th June, 21) Mr Tejas alongwith one more gentleman visited my residence in Gurugram and asked me and my wife to sign the documents of OD limit. When my wife was signing the documents I just to be doubly assured I asked Mr Tejas where is interest 10.50 mentioned in documents. To my surprise he said it is having two year payment plan. Even at this stage he did not mention that these are the documents of business loan. When I further inquired how their could be payment plan in OD limit, then he shifted blame on Garvita i.e. Garvita had asked for business loan. He was getting signed papers of business loan in place of OD limit. I was shocked and taken a back, how responsible people in bank like Kothak can behave? I immediately asked my wife to cancel all the signatures she had done so far.
When I questioned Mr Tejas that why he was getting signed business loan papers instead of OD limit, he put entire blame on Garvita, that is what he was briefed by Garvita. Which I know he was lying because Garvita on phone (three o[censored]s on line) categorically explained Tejas, that it was a case of OD limit, against swipe machines with 10.50 interest.
Sir it is classic case of how even people sitting in responsible seats can go to any extent to achieve their target. How they try to befool and cheat the common public, they do not spare even retired people from armed forces. Person like Tejas are least concerned about your bank's image, having least ethical and integrity values.
The three week bad experience has not only wasted my valuable time, energy but also dented the image of an elite bank in my image.
I hope you will take adequate corrective measures so that in future people like me do not under go such sufferings and your bank image remains protected.
A word of assurance will be appreciated.
Mail address: [protected]@gmail.com