Sbi And Kotak Bank — ECS Mandate Form Complaint

Address:

Ahmedabad, Gujarat

Hi All, It has been 4 months now I am debiting my loan EMI from Kotak and loan is taken from SBI. For the first 2 months my EMI was debited regularly with no problem but on the 3rd EMI Kotak did not allowed SBI to debit the same mentioning that the ECS Mandate form was not submitted from SBI to Kotak due to which they cannot allow. I checked my bank statement and was surprised to see no EMI was debited and went to SBI. They said Kotak claims that ECS Mandate form was not submitted to them by SBI hence they stopped it however SBI said that they did while processing the loan. And now SBI is charging me interest for this skipped EMI which is not my fault. As per SBI I have to pay this while Kotak says they never got the ECS Mandate form so it is not their fault. Now between this I am the sufferer and have to pay interest charges even though it is not my fault. ECS mandate form is something banks has to take care of while here both the parties are running away. Please share your comments if you have heard of such issues and how to resolve it. The charges are not high though but why do I pay for something which is not my fault.