Muthoot — Unethical behavior

Address:	Pune, Maharashtra, 411003
Website:	www.muthootfinance.com

I have taken loan from muthoot finance pune wakdewadi branch, Date[protected] customer ID [protected] LOAN ID 03563/MBL/000289 when i approach to branch my gold value is more than one lakh and am eligible to take loan 94 k, but i need loan of 50 k, i gave application for 50k, loan was sanction with condition, if i want to loan i must have to take insurance from shriram life insurance company of 1 lakh, otherwise we can not give loan to you. I asked to their employee is that compulsory they said ' yes it is compulsory '' I said if it is mandatory give me in written. they are not agree for that also. saying this is company circular we can not show you. After they said " if you die than we can not ask to your family for money, where i said " in that case i have sufficient insurance cover. " they said sir this cover for you " you must have to take insurance for us " i have below some question, 1) No any insurance is compulsory why they Muthoot forcing me. 2 ) am taking loan from MUTHOOT and why Insurance from shriram life insurance. 3) If they are selling shriram life insurance why not agree for my existing insurance. 4 ) If they are doing insurance for security than why my gold taken as security. 5) If this insurance premium not refundable why forcing me. 6) I was surprise with this thing on insurance certificate their is nothing and anywhere maition any premium amount or any ref number Only maintion sum assure 1 lakh. 7) I have taken loan 50 k and insurance done of 1 lakh in Premium Rs 777 /-. 8) If insurance is mandatory why not ready to give in written. i have some urgency that why i have taken loan but am very suffered with this behavior. Kindly find attachment for insurance so called receipt please take action against this type of company. This type behavior very disappointing to any one . please refund amount and take necessary action.