CREDIT CARD LOAN
WRONGFULLY DEBITED LATE FEES, INTEREST AND SERVICE TAX

FROM

RAKESH M SHAH

C1 303 GAGAN VIHAR

612/ 7 BIBWEWADI LULLA NAGAR ROAD

NEAR GULTEKDI MARKET YARD

PUNE 411037

PH (R) 24243303; (OFF) 24273303

MOBILE : 9822783782

E mail: rmshah@vsnl.net

TO

THE RESERVE BANK OF INDIA

Banking Ombudsman

Shri O.P. Aggarwal

C/o Reserve Bank of India

Garment House, Ground Floor,

Dr. Annie Besant Road,

Worli, Mumbai-400 018

Tel. No.24924607/24960893/

2493 3358 ; Fax No.022-24960912

Email: bomumbai@rbi.org.in

GROUNDS OF APPEAL AS PER BANKING OMBUDSMAN SCHEME 2006of RBI

CHAPTER IV CLAUSE NO 8 :

Complaint against Bank :

(k) levying of charges without adequate prior notice to the customer;

(l) non-adherence by the bank or its subsidiaries to the instructions of Reserve Bank credit card operations;

(r) non-adherence to the fair practices code as adopted by the

REFERENCE: Standard Chartered Bank Credit Card No.4940 7680 2953 1388

Respected Sir,

Standard Chartered Bank has given me 0% interest free loan for 90 days repayable in 3 installments. Loan was given on 20th Jan of Rs 43000/-. It was explained to me that 1 st Inst Rs. 2150/- (5% of 43000/-) due and payable with 1st Statement i.e. generated on 8th Feb 09 with due date 2 nd Mar 09. Rs. 860 Service Tax @ 12.6% 106.3 is also due and payable along with the 1st Statement. Hence Total Payment Due on 2nd Mar 09 is Rs. 2150 Rs. 966.30 = 3116.30. Which I have paid in time by Cheq No.211266 drawn on OBC Bibwewadi on 2 Mar in J.M. Road Branch cleared in my bank on 4th Mar.

There after in 2 nd statement dated 8th Mar 09 due on 30 Mar 09 bank shown credit of amount paid by me and even after receiving payment in time for 1 st Inst bank has wrongfully debited Late Fee Charges Rs. 600 Rs. 61.80 for 1st Inst and also Late Charges for Processing Fees Rs. 350 Service Tax on Late Charges Rs. 36.05 Total Rs. 1047.85 (Rs. 600 61.80 350 36.05) which is almost 50% of 1 st Inst. And Fees. On receipt of this statement by post I have immediately made complaint to bank on 16 Mar 09 (Ms. Vinaya) and paid 2 nd Installment shown due in this statement Rs. 2150 (5% of Rs 43000/-) I have paid on 19 th Mar 09 by Cheq No 211270 Drawn on OBC For Rs 2150/- which is presented late by bank and cleared in my bank on 24th Mar 09. i.e. after 5 days but before due date of payment as per 2 nd statement received.

I have received 3rd statement dated 7 th April 09 with Due Dtae 29 April by post in II week of April 09. In this statement after accepting my complaint made on 16 th Mar 09 bank has reversed Rs. 1047.85 (Rs.600 350 97.85) which was wrongfully debited.in 8th Mar 09 Statement. The 3rd and last installment payable Rs 38700/- (905 of Rs. 43000/-) I have paid by Cheq 211276 drawn on OBC cleared in my bank on 27April 09 (i.e. before the due date of amount payable as per the statement)

Thus I have made all the payment in time even though bank has sent me 4th statement dated 7 May 09 showing amount received Rs. 38700/- on 24 April 09. In this statement bank has wrongly charged interest rs. 411.54 as well as service tax on interest rs. 42.39 Total Rs 529.29. This amount as wrongly charged I have not paid and there after every moth bank has keep me sending statement with late fees rs. 350 Service tax on late Fees Interest on previous statement and accumulated with in 6 month rs 529.29 shown due in 8 th May 09 statement to Rs. 2808.37 in last statement received for 8th Nov. 09. Thus bank has increased wrongly charged due amount Rs. 529.29 in May 09 by almost 530%.

Bank has also sent my name in CIBIL for forcing me to pay these dues.

Please take necessary action immediately against this bank as I have paid all principal amount as well as their processing fees in time as per their statement and also give them order for COMPENSATION:

1 Harassment and Mental anguish suffered by me Rs 5000/-

2 Telephone Std Charges for their Banglore Call Center Rs. 1000/-

3 Reversal of all Late Fees, Srvice Tax as well as Interest and send me Zero outstanding balance statement

4 Compensation for loss of my credit standing for sending my name to CIBIL by manipulated statements for each month which is also very small i.e. Rs. 2808/- as on Nov 09. This amount is also arrived after making manipulation for 8 months statements April 09 to Nov 09 wrongful debits of Late fees, Service tax on late Fees, Interest on Late Fees by showing wrong previous outstanding etc. to my goodwill, market outstanding and net worth. The due claimed not paid as it is wrongly charged without any previous notice or information. Bank has just to collect wrongly debited charges in the statement sent my name to CIBIL and as my name appeared in CIBIL I have lost my goodwill and credit outstanding therefore I am requesting you to order bank to issue me “Letter of Apologize” and pay me compensation for loss of my Goodwill and Market Outstanding Rs 25000/-

I am very much sure that you will immediately take necessary action against this bank and grant me compensation so that bank will stop such unethical practices in future with his customers.

Thanking you in advance

Yours Truly

Rakesh Shah

ENCLOSURE ATTACHED FILES : (IN SCAN PDF FORMAT)

1 Scan Statements in PDF from 8 th Feb 09 to Nov 09.

2 Oriental Bank Statement for Mar 09 and Apr 09 showing cheque paid by me are cleared

3 Scan copy of Complaint made to bank Card Service Center Ref No. 12/09/007445

Company: CREDIT CARD LOAN
Country: India

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